Could someone kindly help me with this? Attachment included

Part 1: Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year.

· Suggest how fiscal and monetary policy can move those numbers to an acceptable level keeping inflation the same.

· What is the first action you would take as the president? As the chairman of the Fed? Why?

· What would be your subsequent steps?

· Make sure you include both the positive and negative effects of your actions, and include the trade-offs or opportunity costs. 

Include the following concepts in your discussion:

· Demand and supply of money

· Interest rates

· The Phillips curve

· Taxation

· Government spending

· Wages

· Costs of inflation

· The multiplier and the tax multiplier

· The idea of tax rebates to stimulate the economy

Part 2: Assume that the country is in a budget deficit and carrying a very large debt. Discuss the dangers of a high debt to GDP ratio and a growing budget deficit. Would this affect any policy changes you discussed in Part 1?