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1. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a wide- ranging statute enacted on March 27, 2020, to address the health, economic, and societal impacts of the COVID-19 pandemic. $60B $78.1B Financial Institutions Airline Industry $176B $82B Hospitals and Health Care Providers Federal Program Administration and Oversight $9.5B Farming Industry $14.1B*#* Higher Education $1.6B Global Assistance $468B** $277B Individuals State, Local, and Tribal Governments $2.4 Trillion [ CARES ACT ] [ PPP & HCE ACT ] [PUBLIC LAW 116-123 ] [PUBLIC LAW 116-127 ] $686B $454B* Emergency Lending Small Businesses $31B Public Services (Source: https://pandemic.oversight.gov/ ) Besides increase in government spending, explain another method that can be used as a fiscal tool to ease the negative impact of the COVID-19 pandemic. Using AD-AS model, explain the expected outcomes of this budget? (16 marks)