A model of labor market. Some economists argue that the Beveridge curve in the US. has shifted out after the Global Financial Crisis (GFC) because the labor market in the US. has become less efcient. Your task is to understand how the US. labor market responds to the recession caused by the CFO. Suppose each period lasts a month. The parameter values are given in Table 1. s 0.04 A 0.50 a 0.50 c 1 J 3 Table 1: Model of labor market , parameter Values