4. (1.5 points) For each of the following situations a. through c., answer by stating whether expansionary or contractionary fiscal policy would be more appropriate:

a. Suddenly, prices increase for all goods across the economy

b. The economy is booming and the equilibrium in the AD/AS model has been above and to the right of where SRAS and LRAS intersect for an extended period of time

c. A period of weak hiring has gripped the entire economy, resulting in rapidly increasing unemployment

5. (1 point) During the COVID-19 pandemic and shutdowns, Congress passed a stimulus bill to provide money to Americans. However, it took an extended amount of time for many to receive their funds. Of the various types of time lags discussed in chapter 17, which of them do you think most likely caused this delay, and why?