Question 1. What is the final impact of contractionary fiscal policy on the price-level and real output?
Question 2. What is the final impact of expansionary fiscal policy on the price-level and real output?
Question 3. What are the impacts of an easy monetary policy on the price-level and real output? When would an easy monetary policy be appropriate?
Question 4. What are the impacts of a tight monetary policy on the price-level and real output? When would a tight monetary policy be appropriate?