QUESTION 2 (20 Marks) The post-COVID-19 global environment has been characterised by elevated and persistent inflation prompting many central banks to increase interest to tame inflationary expectations. Provide a critique of the determination by central banks to tighten monetary policy given the challenges faced by households and firms in the post pandemic period. QUESTION 3 (20 Marks) The 2008 global financial crisis (GFC) and the recent COVID-19 crisis (CVC) both had massive economic spillover on the financial markets and the real economy which includes households and corporates. Provide a detailed assessment of the unique characteristics and the impact these two crises had on the macroeconomy. QUESTION 4 (20 Marks) The economic scarring from the COVID-19 crisis (CVC) resulted in some emerging and developing economies (EMDES) reconsidering the extent of the influence of entities in their portfolio. Chief among the sectors earmarked for divestment include aviation and energy. Provide critical considerations to be made by EMDES before divesting from assets within these sectors. QUESTION 5 (20 Marks) Not only were fiscal policy interventions implemented in response to the COVID-19 pandemic, but monetary policy measures also took center stage. (15 marks) 5.1 Provide an evaluation of the effectiveness of the various monetary policy interventions that were taken globally to minimise the impact of the pandemic. 5.2 Discuss the unintended consequences of the various monetary interventions implemented. (5 marks)