4. The Bathtub Model and JobKeeper and JobSeeker: Consider the bathtub model of unemployment given by Et + Ut = L (3 AUtti = &Et - fut (4) where U and E denote the steady levels of unemployment and employment, re- spectively. (a) Solve for the steady state level of unemployment. (Hint: AUt+1 = 0) (b) What is the effect on steady state unemployment if the separation rate rises ($ 1 ) ? (c) The JobKeeper program was designed to provided a subsidy to firms to pass on to their employees and is contingent on keeping the jobs intact. Use the model to explain what effect is any this would have on measured unemploy- ment. (d) The JobSeeker program provides subsidies to workers currently out of work. What parameter in the model would this policy likely affect? What is the impact on unemployment