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Can you help with the following: 4. Since onset of the pandemic last year, the Congress has passed two COVID relief bills. The Fed has

Can you help with the following:

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4. Since onset of the pandemic last year, the Congress has passed two COVID relief bills. The Fed has lowered interest rates to near zero. Is the former a monetary policy or scal policy? How about the latter? Assume we start at "Point 1" in the graph below that indicates the recession caused by the pandemic. Please apply an AD&AS model to show the impact of those two types of policies on the economy. How will they affect GDP and employment? GDP

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