Please help with homework

Answer both of the following prompts in at least 2 paragraphs each. 1. Discuss and describe how the concepts of opportunity cost and trade-offs affect your life. How can people use economics to make wise decisions about their future education, career, and management of their money and time? 2. The US. economy is in serious trouble in 2022. Inflation is at 40 year highs, currently over 9%, and many US. residents struggle to afford groceries and to fuel their cars. Describe why inflation has skyrocketed over the last year and what sectors of the economy have seen particularly extreme inflation. Discuss what the political and economic leaders of the United States (President, Congress, Federal Reserve, CEOs of major corporations) can do to get inflation under control and make the economy more stable and prosperous