Do you expect any differences in the effect on the economy

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Case: The aim of assignment 2 is to help you apply your knowledge regarding monetary and fiscal policies in a real-world context. You will experience a simulation game, where you make policy decisions regarding monetary policy. Once you finish the case (you can play as many rounds as you want, but make sure you try all possible available monetary and fiscal policies), you need to write a reflective essay that answers the following questions. You should incorporate AD/AS graphs and screenshots into all your responses.

Question 1- How do you better control inflation: through monetary policy, or through fiscal policy? Why do you think this is the case? (200 words).

Question 2- Which policy has a stronger effect on growth: monetary policy or fiscal policy? Why do you think this is the case? Which fiscal instrument(s) have a stronger effect compared to others? Are those results in line with your expectations? (200 words).

Question 3- When you want to consolidate the budget, which one is more effective: cutting expenditures or increasing taxes? Is this what you expected? (200 words).

Question 4- Do you expect any differences in the effect on the economy of corporate and income taxes? Why or why not? Which one affects aggregate demand, and which one affects aggregate supply?

Question 5- Reflection: Do you have any additional insights? If you were the Minister of Economy, which policies would you recommend and why? (200 words).

Reference no: EM133751569

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