4. The Phillips curve in the late 20th century The following table presents historical unemployment and inflation data in the United States for the year5 1974 through 1978. Plot the data for these five years on the following graph. Note: You will not be oraded on how you plot the points, but plotting the points accurately on the graph will help you examine the relationship? betwnen unemployment and inflation duting this period and solve the problems that follow. Which of the following statements most accuratedy describes the tedationship between inflation and unemployment. In the United stater during. thls time perlad) The shartorun phimigs curvin remalned stahie. The short-rue phillips carve shifted to the right after actuat inflation was higher than expected. The ahiat run Phillips curve shifted to the feft after actual infliation was fowor than isxected. Thin fohowing -graph shows the shat, fun bhallos curve (ERPC) for the United States in 10%/4. The following graph shows the short-run Phillips curve (SRPC) for the United States in 1974. Shift the curve to illustrate what happened between 1974 and 1978 . The followibg oraph stows the agoregate demand (AD) and short-run aggregate supply (AS) curves for the United States in 1974. Shift the aggregate supply ourve to approximate what happened between 1974 and 1978