Is our economy experiencing both cost-push and demand-pull inflation? If so, which source is greater?

Compare and contrast the transaction demand and asset demand for money.

• What is the relationship between interest rate, aggregate income, and price level?
• Provide 2 specific examples of transaction demand for money.
• Provide 2 specific examples of asset demand for money.

Discuss the limitations of fiscal policy during a recession.

• What fiscal policy has been used during previous recessionary periods?
• How does the fiscal policy during the COVID-19 recession differ from normal recessions? Provide a minimum of 2 forms of difference.