What is the relationship between the Federal funds rate and the prime interest rate?

What is the relationship between the Federal funds rate and the prime interest rate? Why doesn’t the Federal Reserve target the prime interest rate? How is the Federal funds rate established? What role does the Federal Reserve play?2.Fiscal Policy, monetary policy, and the long run-Select one of the following schools of economic thought: Keynesian, Chicago, Modern Money Theory (MMT)and Austrian. Identify three keys points or beliefs that are held by that particular school. What are the macroeconomic policy implications of those beliefs? Explain your answer. Which school of economic thought do you find to be most convincing? Why?3.International trades -What are the similarities and differences in the economic effects of tariffs and quotas? Which one is more effective in protecting an industry and why?Micro1.Regulated Monopolies -Why are monopolies generally considered a bad thing from an efficiency standpoint? Are there instances where monopoly is a necessary market arrangement? How does the fair return price differ from the socially optimal price?Philosophically, do you believe a company that is producing a non-essential good should be prevented from achieving monopoly status if they abide by the law? Why or why not?2.Marginal Productivity Theory-What is the marginal productivity theory of income distribution and how is it consistent with the idea of rewarding those who contribute more to the success of the firm (and by extension society)? Do you personally believe (based on your perceptions and experiences) that most people are paid based on their marginal contributions, why or why not?3.Time Value of Money and Interest Rates-Discuss exactly what is meant by the time value of money and discuss what dynamics interact to determine an interest rate. What is the difference between the real and nominal rate and who benefits (lender or borrower) if inflation rises faster than anticipated on a fixed rate loan?