Compare and Contrast Monetary and Fiscal policy! Monetary Policy 0 Explain the Federal Reserve System and how it influences monetary policy. What is a central bank? What are the three traditional tools used to affect the money supply? Provide examples to support your answers. Fiscal Policy 0 In your own words, what is fiscal policy? 0 What are the concepts of government spending, taxation, and borrowing? Provide an example of fiscal policy in each of the three areas. Comparison 0 When you compare monetary policy to fiscal policy, which process is quicker to create an impact? Why? Provide an example to support your answer. How have you personally been impacted by either monetary policies or fiscal policies? This could be in your personal life or professional life. Provide details to support your