bas 4. Monetary and Fiscal Policy (30 points) How would following monetary or fiscal policy actions undertaken by the federal reserve or federal government affect real GDP (Y) and price level in the economy. If the scenario presented below is a monetary policy measure, state the action's effect on the money supply curve and interest rates as well. Use Money Demand/Money Supply Curve and AS-AD curves in the back, if needed. Policy Measures The Federal Reserve Bank engages in open market purchase of US treasury securities. The Federal Reserve Bank engages in open market sale of US treasury securities. The Federal government increases income taxes for all individuals. ECO 2013: Principles of Macroeconomics Fall 2023 The Federal government passes legislation to send stimulus checks in the amount of $1,000 to households. The Federal government passes legislation to increase government spending on infrastructure. The Federal government decreases taxes for individuals earning less than $100,000 per year. The Federal