Here are hypothetical inflation and unemployment data for Econoland.

Time Period Inflation Rate (%) Unemployment Rate (%)

1 | 0 | 6

2 | 3 | 4

3 | 7 | 3

4 | 8 | 5

5 | 7 | 7

6 | 3 | 6

a. Plot these points.

b. Identify which points correspond to a Phillips phase, which correspond to a stagflation phase, and which correspond to a recovery phase.