Response of the US Government to the Covid 19 Pandemic
Write a positive and a normative response, evaluating the response of the Government (= fiscal policy) and the Federal Reserve Bank (= monetary policy) to the pandemic in the U.S. Address the following questions: 1. What measures did the U.S. government implement to support the people and the economy (consumers and producers)? Do you think mistakes were made? Do you think another country had a better response when faced with the the pandemic? 2. How did the Federal Reserve Bank support the economy when faced with the pandemic and the economy heading towards a recession? 3. How do you think fiscal policy would differ under a Democratic President versus a Republican President? (Include economic theories, such as Keynesian Economic view and Classical Economic view. You can also refer to the appendix of chapter 13 that describes different Economic Schools of Thought). Your response can be concise, perhaps a paragraph for each of the three points.
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