Need the 5 following questions answered
1. Outline the Federal Reserve Bank design. Include a brief description of the five steps to understanding the nation’s central bank and central bank policy. Why is the Fed designed in such a manner?
2. Outline each of the three major macroeconomic models used throughout the history of the Federal Reserve Bank. Include a discussion of the catalyst that prompted the Fed to change its model.
3. Graph and explain the Phillips Curve. Describe how it has evolved since first introduced.
4. Provide a brief description of both the rules approach to central bank policy and discretion. Include the benefits of each and explain the Taylor Rule. Be sure to include an example of the Taylor Rule.
5. Who is Blaise Pascal and what is the logical conclusion to Pascal’s Wager?
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