Answer the 3 questions below: The questions are not related. a .To assess the state of the labor market, the UNRATE is reported, which is the most common unemployment measure. However, other measures are also obtained including: U4, U5, and U6: these latter measures result in higher unemployment rate as compared to UNRATE because they include (as an example) 1. and 2. which ARE not included in UNRATE. [just fill in the 2 blanks; provide your answer below] b. What is the impact of a fall in future income on current consumption, future consumption, and private savings? Discuss, provide intuition. c .Discuss the Federal Reserve: why was it created? what are its goals? and what are the different tools it uses to conduct policy?
Answer the 3 questions below: The questions are not related. a .To assess the state of the labor market, the UNRATE is reported, which is the most common
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