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Hello, can I please have assistance answering all parts to the following question: 5. Monetary policy and the Phillips curve The following graph plots the

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Hello, can I please have assistance answering all parts to the following question:

image text in transcribed
5. Monetary policy and the Phillips curve The following graph plots the short-run Phillips curve for a hypothetical economy. The given point on the graph indicates the initial rates of memployment and inflation. Assume that the accrtomy is currently in long-run equilibrium. Supporta the central bank of the hypothetical economy decides to decrease the monay supply On that following graph, shift the curve or drag the hil point along the curvit, or do both, to show the short run affects of this policy. d bank's maree was unanticipated. O INFLATION RATE (Pacif) 15 UNEMPLOYMENT HATE /Perca) In the short run, an unexpected decrease in the money supply results in in the inflation rate and in the On what following graph, shift the curve or drag the hiw point along the curve, or do bath, to show the long run effects of the decrease in the monday supply (7) O- INFLATION RATE ( COM UNEMPLOYMENT RATE (Part In the long run, the decrease in the money supply results in in the inflation rate and in the unemployment rate fridalive to the economy's initial equilibrium)

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