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4. The Federal Reserve has a statutory dual mandate. (a) What does maximum employment mean? Does it mean that everyone in the US economy has

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4. The Federal Reserve has a statutory dual mandate. (a) What does maximum employment mean? Does it mean that everyone in the US economy has a job? (b) What does price stability mean? Does it mean that prices neither increase nor decrease? (c) Describe intuitively (and concisely) how the dual mandate creates a tradeoff; that is, how targeting one mandate should make obtaining the other one harder

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