Why does the Fed watch both inflation and unemployment? Is the Fed’s goal to reach an unemployment rate of zero? Explain

Chair the Fed Game (Links to an external site.)Links to an external site. Extra Credit Opportunity

You can earn up to fifteen points extra credit by playing Chair the Fed: A Monetary Policy Game (Links to an external site.)Links to an external site. which is described below and submitting a screen shot of your results indicating that you have been reappointed as Chair. You will likely have to play Chair the Fed (Links to an external site.)Links to an external site. several times in order to be reappointed. You should also provide short answers to the nine questions (below) to be eligible to earn the full fifteen points

I recommend that you complete this credit project after you have read Chapter 15 (Links to an external site.)Links to an external site. in your online text which covers monetary policy and the Federal Reserve. No replies to other students are necessary just your attach your screen shot and the answers to the nine questions.
Here is a link (Links to an external site.)Links to an external site. to the “Chair the Fed” Game. Read the instructions carefully:

https://sffed-education.org/chairthefed/WebGameYourJob.html?head2=0 (Links to an external site.)Links to an external site.

I also suggest reviewing these FAQs (Links to an external site.)Links to an external site. concerning the game:

https://sffed-education.org/chairthefed/WebGameFAQs.html (Links to an external site.)Links to an external site.

The Chair the Fed Game is brought to you buy the San Francisco Federal Reserve (Links to an external site.)Links to an external site..

Answer These Questions

You can receive up to 15 points extra credit if your game results indicate that you can be reappointed as Chair. Attach and submit a screen shot of your results in your discussion post and number your answers to the questions below. Please make sure that your answers are visible within the thread so that the reader does not have to click an attachment to view your responses.

Explain how the most common monetary policy tool: open market operations (Links to an external site.)Links to an external site. are implemented.
Why does the Fed watch both inflation and unemployment?
Is the Fed’s goal to reach an unemployment rate of zero? Explain
Is the Fed’s goal to reach zero inflation? Explain
How do changes in the fed funds rate affect the economy? How long before changes in the fed funds rate affect the economy? How much does the Fed change the fed funds rate normally?
Does the Fed Chair set monetary policy?
Why isn’t the money supply in the game?
What is the discount rate? Why is the discount rate not included in the game?
Does this game match how monetary policy is set in the real world? How does the Chair the Fed Game simplify the real world?
You can find an example of the screen shot that I would like to submit at the bottom of the attached PDF file.

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