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2. ) Figures 16.3 and 16.4 show household debt as a percentage of GDP and the personal savings rate. According to these graphs, the ratio of household debt to GDP In 2007, before the 2008/2009 recession, was just under 100%. In the same year, the personal savings rate was 2.5%%. Navigate to FRED from the St. Louis Federal Reserve. Obtain the latest value for these two statistics (hint: search for the data codes CMDEBT, GDP, and PSAVERT). a. How has the ratio of household debt to GDP changed since 2007? b. How has the personal savings rate changed since 2007? c. Using current events, household preferences, and lingo from class (e.g. precautionary savings), discuss one explanation for these changes