Home X D21 7-1 Quiz - ECO-202-T4488 Ma X MindTap - Cengage Learning X Course Hero x Course Hero X + C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981412353502464190243042516&elSBN=9780357133576&id=1736030882&snapshotld=3372210& Makenzie v KK CENGAGE | MINDTAP Q Search this course ? My Home Module Seven Quiz X 6. Aggregate demand, aggregate supply, and the Phillips curve Courses In the year 2027, aggregate demand and aggregate supply in the imaginary country of Daisen-Oki are represented by the curves AD2027 and AS on Catalog and Study Tools the following graph. The price level is currently 102. The graph also shows two potential outcomes for 2028. The first possible aggregate demand A-Z curve is given by the curve labeled ADA curve, resulting in the outcome given by point A. The second possible aggregate demand curve is given by Rental Options the curve labeled ADB, resulting in the outcome given by point B. College Success Tips Career Success Tips (? ? Help Give Feedback 108 bongo AS 107 106 B 105 PRICE LEVEL 104 A+ AD 2027 103 ADB 102 101 ADA O 100 2 6 8 10 12 14 16 OUTPUT (Trillions of dollars)Home X D21 7-1 Quiz - ECO-202-T4488 Ma X MindTap - Cengage Learning X Course Hero x Course Hero X + C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981412353502464190243042516&elSBN=9780357133576&id=1736030882&snapshotld=3372210& Makenzie v KK CENGAGE | MINDTAP Q Search this course ? My Home Module Seven Quiz X Courses Suppose the unemployment rate is 5% under one of these two outcomes and 2% under the other. Based on the previous graph, you would expect Catalog and Study Tools to be associated with the lower unemployment rate (2%). A-Z Rental Options If aggregate demand is high in 2028, and the economy is at outcome B, the inflation rate between 2027 and 2028 is College Success Tips Based on your answers to the previous questions, on the following graph use the purple point (diamond symbol) to plot the unemployment rate and Career Success Tips inflation rate if the economy is at point A. Next, use the green point (triangle symbol) to plot the unemployment rate and inflation rate if the economy is at point B. (As you place these points, dashed drop lines will automatically extend to both axes. ) Finally, use the black line (cross symbol) to draw ? Help the short-run Phillips curve for this economy in 2028. Give Feedback Note: For graphing pruposes, round the inflation rate under each outcome to the nearest whole percent. For example, round 1.9% to 2.0%. bongo Hint: Hover your cursor over each point after you plot it to make sure you have placed it on the exact coordinate you intended. A+ Outcome A A Outcome B + INFLATION RATE (Percent) w Phillips Curve 2Home X D21 7-1 Quiz - ECO-202-T4488 Ma X MindTap - Cengage Learning X Course Hero x Course Hero X + C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=5981412353502464190243042516&elSBN=9780357133576&id=1736030882&snapshotld=3372210& Makenzie v KK CENGAGE | MINDTAP Q Search this course ? My Home Module Seven Quiz X Hint: Hover your cursor over each point after you plot it to make sure you have placed it on the exact coordinate you intended. Courses Catalog and Study Tools A-Z Rental Options 00 College Success Tips Outcome A Career Success Tips 6 A ? Help Outcome B Give Feedback + INFLATION RATE (Percent bongo w Phillips Curve 2 A+ UNEMPLOYMENT RATE (Percent) Suppose that the government is considering enacting an expansionary policy in 2027 that would shift aggregate demand in 2028 from ADA to ADB. This would cause a the short-run Phillips curve, resulting in in the inflation rate and in the unemployment rate. 141.1 Grade It Now Save & Continue Continue without saving