In country X, the unemployment rate is 13%, the inflation rate is 16% and the GDP growth rate is 3%. The goal is 5-5-5, i.e., 5% inflation rate, 5% unemployment rate and 5% GDP growth. Assume that you are the Minister of Economics.

Do you think you can achieve this goal using a single policy instrument? Why or why not? (5 pts)

Which policy or policy mix would you use to achieve the 5-5-5 goal? Please explain the policy or the policy mix, clarify the policy instrument you would use, and discuss how it/they would work to achieve the goal (15 pts)