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6. Suppose the economy is having high rates of inflation and the Fed's objective is to fight inflation. a) Describe in words a fully labeled supply and demand for money figure and its parts. Then using this figure, describe the effects of a monetary policy that is needed to fight inflation on the interest rates. OR. Drawing and using a FULLY LABELED supply and demand for money figure - drawn by using MS Word/stylus, show the effects of an appropriate monetary policy that is needed to fight inflation on the interest rates. b) List three different ways in which the Fed can implement the monetary policy you describe in a). () STARTING WITH A CHANGE IN INTEREST RATES, write down the steps through which the change in interest rates that you find could succeed in fighting inflation