The table describes four possible outcomes for 2017, depending on the level of aggregate demand in that year. Potential GDP is $10 trillion and the natural unemployment rate is 5 percent. Inflation...

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Extracted text: The table describes four possible outcomes for 2017, depending on the level of aggregate demand in that year. Potential GDP is $10 trillion and the natural unemployment rate is 5 percent. Inflation rate (percent per year) 12- 11- 10-10 Price level Unemployment rate (percent of labor force) (2016 = 100) 9- 102.5 9. 8- 17.5 105.0 6. 7- 107.5 4 6- D 110.0 3 54 Draw the four points A,B,C, and D on the short-run Phillips curve using the data in the table. Label the points. 4- 3- 12.5 Draw the short-run Phillips curve through the points. 2- Label it SRPC. 1- 0- 8. 6. 10 Unemployment rate (percent of labor force) >>> Draw only the objects specified in the question. Selected: Delete Clear none Next