1. Referring to the graph below, Belgium (BEL) 10 8 --- NAIRU 6 RATES (percent) Unemployment Inflation 4 2 1970 1980 1990 2000 2010 TIME (year) characterize the increasing inflation in 1990 as cost-push or demand-pull. Note that the non-accelerating inflation rate of unemployment (NAIRU) is a proxy for the natural rate of unemployment. Support your explanation with the appropriate equation(s). Hint, Okun's law may be helpful here