Refer to the information below, use the appropriate tools that we discussed in class, including monetary policy, government policy, money market, the AD-AS and Phillip curves model to analyze the impact of the Trumps policies and Bidens policies on output, good prices, inflation and unemployment. **Trump lowered corporate tax rates, but Biden increases an additional $4 trillion in tax revenue by increasing the top tax rate to 39.6%, taxing capital gains at ordinary rates, and raising the corporate tax rate to 28%. ** Both Biden and Trump want to spend more than 1 trillion on roads, bridges and other infrastructure projects over 10 years **Trump cut funding for the Education Department by $10.4 billion and increases expenditure on public health against COVID19. However, Biden proposes forgiving student debt for poorer grads. **President Biden announced on Dec 2 that private health insurance will plan to reimburse people who buy over-the-counter, at-home rapid tests for the coronavirus one of a series of steps the White House is planning in order to encourage better detection and prevention of COVID-19 this winter. ***Trump didn't dial back the China trade war rhetoric during his presidency. U.S trade deficit dropped for the first time in 2019. But Biden wants a coalition with international allies to pressure China.

**The Federal Reserve raised the federal fund rate (Hint: When the Fed raises rates, it's called contractionary monetary policy. A higher fed funds rate means banks are less able to borrow money to keep their reserves at the mandated level. As a result, they lend less money out) **For both Trump and Biden creating jobs through infrastructure investments should be a priority. Trump planned to continue the "Buy American, Hire American" immigration agenda. Biden wants to raise the minimum wage to $15