1. A} What is the Federal Funds Rate {FFR}? {4 points} B} Why the Fed targets the FFR? Briefly explain C} Does the Fed set a lower or higher target value for the FFR when output {Y} declines and inflation falls? Does the Fed engage in contractionargt or expansionary monetary' policy? D] Does the Fed set a lower or higher target value for the FFR when output increases {Y} and ination is above the target inflation? Does the Fed engage in contractionarv or expansionary monetary policy