The global financial crisis of 2008 left many nations with slow GDP growth rates and high levels of public debt. While most nations followed a unanimous monetary policy, some nations simply lowered income taxes while others massively expanded fiscal spending. Compare and contrast the expected impact of each of these two policy mixes on output. Why do you think nations followed different policy mixes in 2008? Provide two examples of what countries did in this time frame. Think ahead to the present: Many a media reference hastens back to the global financial crisis of 2008 as a stark reminder of the potential for economic calamity in the present (i.e., present day 2022). Compare current monetary or fiscal policy (you pick) now to 2008 and discuss