2. In the framework of the Phillips curve model, (i) Outline and appraise the role of ination expectations in causing accelerating ination when the actual unemployment rate is reduced below the 'natural' rate of unemployment (or below the nonacceleratingination rate of unemployment). (ii) Supposing that ination stabilizes, but at a rate deemed too high, outline the character of the disinflationary process in this framework. (iii) What is the possible role of central bank 'credibility' in facilitating such a disinflationary process