A goal of monetary policy and fiscal policy is to offset shifts in aggregate demand and thereby stabilize the economy.
In order to achieve macroeconomic policy goals like price stability, full employment, and steady economic growth, central banks must implement monetary policy.
The federal government's tax and spending policies are referred to as fiscal policy.
Regular objectives of monetary and fiscal policy include stabilizing prices and wages, achieving or maintaining full employment, and achieving or maintaining a high rate of economic growth. The 20th century saw the establishment of these ideals as legitimate aims of governmental economic policy as well as the creation of the means by which to accomplish them.
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