ANYTHING HELPS IF YOU CAN'T DO SOME QUESTIONS IT IS FINE!!!

With the start of the COVID pandemic in the US in spring 2020, government implemented a lockdown on the US economy. Many businesses were required to close operations, move their employees to remote working or lay them off, or operate with limited capacity. Many employees lost their jobs or were furloughed. Consumers were restricted to buying online for most products.

4. What type fiscal policy approach would Keynesian economists recommend that the government undertake and what 2 methods could the government do to implement it? Explain why the Keynesians would recommend this policy. Draw the effects of this Keynesian policy using the TE/TP model you drew in 1). Describe how the policy would work through the economy using Keynes' consumption function and multiplier. Predict the final effect on real GDP and unemployment

5. What effects will the classicist fiscal policy have on the federal budget and how will this impact the national debt? How will it affect the loanable funds market and what will be the effect on interest rates? Draw the policy effect in the loanable funds market.

6. What effects will the Keynesian fiscal policy have on the federal budget and how will this impact the national debt? How will it affect the loanable funds market and what will be the effect on interest rates? Draw the policy effect in the loanable funds market.

7. What would be the benefits of the classicist approach as a solution to the COVID economic situation? And what would be the problems of the classicist approach as a solution to the COVID economic situation?

8. What would be the benefits of the Keynesian approach as a solution to the COVID economic situation? And what would be the problems of the Keynesian approach as a solution to the COVID economic situation?

9. Which do you think would be the appropriate approach and why do you think this?