As an economist and based on the impact of COVID-19, identify and justify economic and fiscal policy measures that should be taken by the government with the aim of reviving the economic condition of the country based on the following: a) Expansionary fiscal policy b) Contractionary fiscal policy c) Expansionary monetary policy d) Contractionary monetary policy

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Fiscal Policy and Money Market

Fiscal policy is one of the important tools that is used by the government to control inflation or aggregate demand in the economy. Under this policy, there are two rules which are used by the government, one is the expenditure of the government and the other is the taxation or income of the government which it collects from the public.