[challenge question] An economy is in long-run macroeconomic equilibrium with an unemployment rate of 5% when the government passes a law requiring

[challenge question] An economy is in long-run macroeconomic equilibrium with an unemployment

rate of 5% when the government passes a law requiring the central bank to use monetary policy to

lower the unemployment rate to 3% and keep it there. How could the central bank achieve this goal in

the short run? What would happen in the long run? Illustrate with a diagram.