Plot the short-run Phillips curve and aggregate supply curve for 2017 and mark the points A, B, C, and D on each that correspond to the data in the left part of the table.

The left part of the table describes four possible situations that might arise in 2017, depending on the level of aggregate demand in 2017. The right part of the table describes four possible situations that might arise in 2018.

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Unemployment rate Real GDP (trillions of Inflation rate (percent per year) Price level (2016 = 100) 2016 dollars) (percentage) 102 104 10.0 B 10.1 10.2 4 106 D 10 2 110 10.4 ----------. Price level (2016 = 100) 2016 dollars) Real GDP Unemployment (trillions of Price level |(2016 = 100) 2016 dollars) Real GDP Unemployment (trillions of rate rate (percent) (Percent) 10.3 102 10.0 108 104 10.1 B 110 10.4 106 10.2 112 10.5 2 110 10.4 2 116 10.7