Final answer:
Macroeconomic policy consists of monetary policy, managed by the central bank and dealing with money supply and interest rates, and fiscal policy, involving government spending and taxes, determined by legislative bodies. Hence, the correct answer is option (2).
Step-by-step explanation:
The two main tools of macroeconomic policy include monetary policy, and fiscal policy, which involves government spending. Monetary policy generally encompasses the control over the money supply and interest rates, typically managed by a nation's central bank. In the United States, this is the Federal Reserve.
On the other hand, fiscal policy relates to changes in government spending and taxes, determined by the nation's legislative bodies, which, for the United States, are Congress and the executive branch responsible for creating the federal budget. These policy tools are designed to influence the economy's performance, with objectives such as growth in the standard of living, maintaining low unemployment, and controlling inflation.