Part II (24 points total on two pages.) Fully explain with illustrations and in full sentences the reasons for criticisms of monetary policy practiced by the Federal Reserve Board to ght economic recessions and explain the reasons for alternative policy proposals by each group listed below. F or t\" credit, use examples from class as appropriate and fully explain. Use the back of the page if more space is needed. A. Keynesian (6 points) 1) Three criticisms of the FED and reasons for each criticism. 2) For each criticism, what alternatives and reasons are offered by this school of thought. B. Austrian (6 points) 1) Three criticisms of the FED and reasons for each criticism. 2) For each criticiSm, What alternatives and reasons are offered by this school of thought. [Be sure to include an explanation and discussion of moral hazard as part of your answer.]