Macroeconomics ClassLearning Plan 9AssignmentsLP9 Assignment: Economic SituationsThe news headlines during late 2012 and early 2013 were predominantly encompassed by the numerous deliberations between the President of the United States of America and the United States Congress regarding how to deal with the economic situations facing the USA. The unrelenting debates concentrated on situations which included the USA’s Fiscal Cliff, Debt Ceiling and the Continuing Resolution for the Federal Government. Thus, while referencing these economic situations and the economic principles and terminology described in the course textbook, explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.Write a two-page essay in which you address the issues outlined above. Format your essay in a Word document using Times New Roman 12-point, one-inch margins and double spacing. Use proper spelling, grammar and punctuation. Submit to the instructor via Drop box “LP9 Assignment: Economic Situations”.This assignment is worth 75 points; grading will be based on the LP9 Scoring Guide.Learning Plan 10 Discussion 10: Monetary Policy 0 messages – 0 unreadWhile referring to the “EYE on YOUR LIFE” section on page 443 of the textbook, discuss the monetary policy issues facing the U.S. economy today. Base your answer on the economic concepts you have learned in this course and on what you’ve learned by watching the current news.What is the greater monetary policy risk: inflation or recession?If you are more concerned of the risk of inflation, what action do you expect the Fed to take?If you are more concerned of the risk of recession, what do you expect the Fed to do?