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Monetary and Fiscal Policy

COVID-19 is affecting the economy in many ways. The Australiangovernmenthas taken action over the past year to help the economy.

Please define relevant theory and be very specific in your answer

1. Name and define this type of policy.

2. a. What actions has the government taken with the above named policy? (Pleases name two (2) actions taken by the Australian Government.)

2b. What effect are they hoping for with economic growth and unemployment?

3a. Name one automatic stabilizer.

3b. How does the automatic stablizer mentioned above help the economy during economic contractions?

4. REFLECTION: How has Covid-19 impdcdacted economically speaking?