Construct the aggregate supply curve associated with the above Phillips Curve schedule, assuming

(a) the price level in the prior period was 100,

(b) full-employment output is 1,000 units, which corresponds with a 6 percent unemployment rate, and

(c) for every 1 percent change in unemployment, output changes 2 percent in the opposite direction

(this being one version of Okun’s Law). To keep the math simple, assume that every 2 percent change in output equals 40 units of output

(2 percent of 2,000).