Use the Taylor rule to predict the Fed funds rate in each of the following situations. a. Inflation is 2 percent, the inflation target is 5 percent, and output is 2 percent below potential. Instructions: Enter your response rounded to one decimal place. percent b. Inflation is 5 percent, the inflation target is 2 percent, and output is 2 percent above potential. Instructions: Enter your response rounded to one decimal place. 3.5 percent c. Inflation is 5 percent, the inflation target is 2 percent, and output is 2 percent below potential. Instructions: Enter your response rounded to one decimal place. 7.5 percent