7 describe the feds objective function and how it can be, Finance Basics

7 describe the feds objective function and how it can be

7, Describe the Fed's objective function and how it can be used with an economic model to evaluate alternative monetary policies.
#8, Why didnt policy based on the phillips curve work to help the fed reduce the unemployment rate to a lower level than before? What happened in the 1970's as the fed tried to take advantage of the tradeoff between inflation and unemployment?

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