(19 of 20) Study the diagram below. What is the short run unemployment rate if inflation is expected to be 8% and is actually 12%? You do not need to include the % sign in your answer. Inflation Rate (%) LR Phillips Curve 14 C 12 10 8 12% expected inflation 6 D A 8% expected inflation 4% expected inflation 2 (0, 0) 2 4 6 8 10 12 14 Unemployment Rate (%) Short-run and Long-run Phillips Curves