Chapter 22/Question 1 (a) Based on ch. 22 and the current economic climate in the U.S. ("), explain how a combination of interest rates and economic output between 2021 and 2022 (2" qur.) could impact the equilibrium for goods and services in 2023. Include one example based on the listed economic factors listed herein to support your response. (*) economic factors include U.S. GDP. U.S. inflation, U.S. unemployment, U.S. national income trends for 2021 to 2022. (b) Briefly describe the Consumer Price Index, "CPI". Is the current CPI an accurate measure of consumption in the U.S. from 2021- 2022 (2" qtr.)? Using an example, explain how the CPI account for consumption in the U.S. from 2021 to 2022 (2" qtr.). Include two macroeconomic reasons to support your response. Explain how each reason correspond to your example of the CPI consumption in the U.S. (c) Over the last 10 yrs. the Bureau of Labor Statistics have noted considerable attention to a subtle problem that measure how the total costs of buying a fixed basket of goods has evolved over time. Identify and describe this "subtle problem". Provide two reasons why these issues are important to economic growth in 2022 and will be in 2023 as well.. (d) Refer to section (c) above, explain if the problem is over or under representing the purchases of the average consumer. Would you say the problem is closely related to household savings and investments or the broader U.S. economy; or is it a blend of both (i.e. (1) household savings and investments (2) the broader U.S. economy. Include one macroeconomic reason to support your response .Chapter 22/Question 1 (a) Based on ch. 22 and the current economic climate in the U.S. ("), explain how a combination of interest rates and economic output between 2021 and 2022 (2" qur.) could impact the equilibrium for goods and services in 2023. Include one example based on the listed economic factors listed herein to support your response. (*) economic factors include U.S. GDP. U.S. inflation, U.S. unemployment, U.S. national income trends for 2021 to 2022. (b) Briefly describe the Consumer Price Index, "CPI". Is the current CPI an accurate measure of consumption in the U.S. from 2021- 2022 (2" qtr.)? Using an example, explain how the CPI account for consumption in the U.S. from 2021 to 2022 (2" qtr.). Include two macroeconomic reasons to support your response. Explain how each reason correspond to your example of the CPI consumption in the U.S. (c) Over the last 10 yrs. the Bureau of Labor Statistics have noted considerable attention to a subtle problem that measure how the total costs of buying a fixed basket of goods has evolved over time. Identify and describe this "subtle problem". Provide two reasons why these issues are important to economic growth in 2022 and will be in 2023 as well.. (d) Refer to section (c) above, explain if the problem is over or under representing the purchases of the average consumer. Would you say the problem is closely related to household savings and investments or the broader U.S. economy; or is it a blend of both (i.e. (1) household savings and investments (2) the broader U.S. economy. Include one macroeconomic reason to support your response