The U.S. economy is starting to find its way through the economic turmoil caused by the pandemic. Government policy was very active with both monetary policy and fiscal policy attempting to keep the economy moving during the pandemic. We are starting to see some of the effects of those policies. Analyze the effects of monetary and fiscal policies employed during the pandemic. Include in your paper.

• An analysis of the monetary policy approach the Federal Reserve took to the pandemic
• An analysis of the fiscal policy approach the Federal Government took to the pandemic
• An analysis of how the attempts to influence GDP in the short-run negatively affect GDP in the long-run
• An explanation of why the unemployment rate dropped rapidly in the United States despite low rates of increases in GDP
• An identification, as appropriate, of the economic principles (from Module 1) that factor into your analysis