Question: I need help on problem 2 a and c but specially a since I'm not very sure I'm drawing my graph correctly. 2. The unemployment

I need help on problem 2 a and c but specially a since I'm not very sure I'm drawing my graph correctly.

I need help on problem 2 a and c but specially a

2. The unemployment and inflation rates are important indicators of the health of the United States' economy. a. Assume that the economy is currently at long-run equilibrium. In an election year, government officials enact expansionary fiscal policy to win more votes. Using a correctly labeled Phillips curve (axes provided below), show how this policy would affect the unemployment and the rate of inflation. Include the SRPC and LRPC curves. Show the short-run change only. Mark the economy's starting point 1 and the finishing point 2 b. Now assume a negative supply shock hits this economy. Circle below what would happen to the SRPC. SRPC shifts left SRPC shifts right Movement along SRPC c. List two events that could cause the LRPC curve to shift to the left.2. The unemployment and inflation rates are important indicators of the health of the United States' economy. a. Assume that the economy is currently at long-run equilibrium. In an election year, government officials enact expansionary fiscal policy to win more votes. Using a correctly labeled Phillips curve (axes provided below), show how this policy would affect the unemployment and the rate of inflation. Include the SRPC and LRPC curves. Show the short-run change only. Mark the economy's starting point 1 and the finishing point 2 b. Now assume a negative supply shock hits this economy. Circle below what would happen to the SRPC. SRPC shifts left SRPC shifts right Movement along SRPC c. List two events that could cause the LRPC curve to shift to the left

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