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(35 points Use the table below to answer the following questions. FF - the federal funds rate PCE INF = PCE inflation PCE CORE =

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(35 points Use the table below to answer the following questions. FF - the federal funds rate PCE INF = PCE inflation PCE CORE = the core rate of PCE inflation GDP = real GDP GDP POT = potential GDP UR = the unemployment rate GDP and PCE inflation table FF PCE PCE DATES GDP GDP UR INF CORE POT 1974- 11.25 04-01 10.0 7.1 5425.4 5404.6 5.2 1974- 12.09 11.0 07-01 8.7 5372.8 5455.0 5.6 1974- 10-01 9.35 11.5 9.9 5351.4 5505.2 6.6 1975- 6.30 10.3 01-01 10.1 5286.7 5554.2 8.3 1975- 5.42 8.6 04-01 9.1 5327.4 5601.5 8.9

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