Question: 1. Using the Phillips curve, illustrate and explain how cost-push inflation impacts the relationship between the unemployment and inflation rates. 2. Provide a detailed explanation

1. Using the Phillips curve, illustrate and explain how cost-push inflation impacts the relationship between the unemployment and inflation rates.

2. Provide a detailed explanation of the Phillips curve. Your explanation should include the definition of the Phillips curve and what is meant by a "trade-off" between inflation and unemployment.

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