3. Assume that the table below shows the unemployment and inflation data in Country X as a result of a shift in aggregate demand. Period Unemployment Rate Inflation Rate Last year 2% 8% This year 5% 4% (a) Draw a correctly labeled graph of a short-run Phillips curve for Country X, showing the actual unemployment and inflation rates for both years. Label the Phillips curve as SRPC. (b) Now assume that the short-run aggregate supply curve has shifted to the left. (i) Identify one factor that could cause the aggregate supply curve to shift to the left. (ii) On the graph, show how this shift would affect the short-run Phillips curve. (c) Assume that the natural rate of unemployment in Country X is 5 percent. Draw a correctly labeled graph of the long-run Phillips curve and label it as LRPC. (d) What is the relationship between the unemployment rate and the inflation rate in the long run