A E E EE Given the actions undertaken by the federal government to counteract the impact of COVID-19 lockdown on teh economy 1.What type of gap did the lockdown cause for the US economy? What is the effect on the real GDP, unemployment and price level? Draw the gap in the ADAS model and the TETP model (be sure to label everything) 2. What type of fiscal policy did congress implement as a result of the gap in 1. What method did they use? Draw the fiscal policy using the ADAS model and the TETP model. 3.what type of monetary policy did the Fed implement as a result of 1. What open market operation did they use? Draw the effect of the open market operation in the federal funds market. Draw the ultimate effect of the monetary policy on the economy using the ADAS graph rom 4.what effect wull the fiscal policy implemented by congress in 2 have on the federal budget and how will this impact the national debt. How will it affect the loanable funds market and what will be the effect on the interest rate. Draw the effect in the loanable funds market