Question 7: There are four (4) parts to this question: (a) What is the difference between fiscal and monetary policy? (2.5 marks) Click or tap here to enter text. (b) How does the fiscal balance vary with the business cycle? (2.5 marks) Click or tap here to enter text. (c) Why is it difficult to 'fine tune' the economy or level of economic activity using fiscal policy? (2.5 marks) Click or tap here to enter text. (d) Why is it difficult to use monetary policy as a precise means of controlling aggregate demand? (2.5 marks) Click or tap here to enter text