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In early 2020, the US unemployment rate spiked at nearly 15%, which is very high. At that time, the Federal Reserve took action to bring

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In early 2020, the US unemployment rate spiked at nearly 15%, which is very high. At that time, the Federal Reserve took action to bring the unemployment rate down. Read both part a and part b of this question before you begin to answer part a. a. (5) Identify and describe the specific action the Federal Reserve would take to bring the unemployment rate down. b. (15) Carefully and completely explain how the action you described in part a. would help to keep the unemployment rate low. Your explanation should incorporate Aggregate Demand-Aggregate Supply analysis. That is, how will the Fed's action affect Aggregate Demand and/or Aggregate Supply? How does that shift bring about a lower unemployment rate? Be sure that your explanation is complete and fully explains what- causes-what by placing events in the proper sequence

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