9.02 FISCAL POLICY Economics For each scenario below, suggest a contractionary or expansionary fiscal policy with specific suggestions regarding congressional action. In a full paragraph, make sure you: e Identify what the economic situation is (recession or inflation?) e Explain what type of policy you would recommend (contractionary or expansionary?) e Suggest how Congress should go about enabling that type of fiscal policy (what types of laws should they pass?) Scenario 1 1. Unemployment is skyrocketing, and consumer confidence is low. Businesses are having to lay off workers and are decreasing investments. GDP has been down for two quarters in a row. Enter your answer to Question 1 here Scenario 2 2. The prices of goods are rising quickly, making money not worth as much as it was. It might get out of control soon. Even though there is almost full employment, people can't afford everyday items anymore. Enter your answer to Question 2 here 5.06 MONETARY POLICY: CURRENT EVENTS Economics For this assessment, you will be conducting a web search to find a current event about monetary policy. Then you will complete a current events questionnaire and submit both it and a link to the article or video to your instructor. Step 1 Conduct a web search. You might want to search for terms like the following: \"Fed\" \"Monetary Policy\" \"Interest rates\" \"Open Market Operations\" \"'Reserve Requirement\" Step 2 Read the article (or watch the video) carefully. e Remember, monetary policy has to do with actions taken by the Federal Reserve. If your article/video is about actions taken by Congress, itis fiscal policy and shouldn't be used for this assignment. e Make sure the article is a current event from a reliable news source (like the one below). e Make sure it is a current event (from within the last year). A current event is a news story about something that occurred or some action that was taken, in this case by the Federal Reserve. e Artifact Example: i MASKETS BUSINESS INVESTING TECH POUTICS CMBCTV WATCHUST FROS Fed holds rates near zero, says economy has gotten better even with pandemic worries we f W in @ @ 3 https://www.cnbe.com/2021/07/28/fed-decision-july-2021.html Step 3 Once you have selected an artifact (article or video), read/watch it then complete the worksheet below. Monetary Policy Current Events Worksheet: 1. Copy the link to your article or video here: Copy the link to your article or video here 2. What is the title of the artifact (article or video)? Enter your response to Question 2 here 3. What date was it originally published? (Make sure it is from within the last year.) Enter your response to Question 3 here 4. s the article describing a tight money policy or an easy money policy? Copy a quote from the article to back up your answer. Enter your response to Question 4 here 5. Which of the three tools of the Fed are discussed in the article? a. The Reserve Requirement b. Discount Rate c. Open Market Operations (buying or selling bonds) For each tool discussed in the article, provide an example by cutting and pasting or transcribing a quote from the article. Enter your response to Question 5 here 6. Summarize the monetary policy or actions of the Fed described in the article. Why do you think the Fed made or is making this choice? Does the article say? If it does, paraphrase and provide a quote. If it doesn't, provide reasoning for your answer. Enter your response to Question 6 here Step 4 Submit the worksheet with a link to the article or video to your teacher