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Real-Time Data Analysis Exercise* Inflation rate (percent per year) + 5.07 Date Unemployment rate Inflation rate 4.5- (percentage of labor force) (percent per year) Apr 2020 14.8 0.3 4.0-3 Apr 2021 6.1 4.2 3.5- *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve 3.0 Bank of Saint Louis. 2.5- The table above shows the unemployment rata and inflation rate in the United States in April 2020 and April 2021: 2.0- 1.5- 1. Draw a point to show the unemployment rate and the inflation rate in April 2020 and label it 1. 1.0- 0.5- 2. Draw a point to show the unemployment rate and the inflation rate in April 2021 and label it 2. 45 6 5 6.5 0.8 8 5 9 501015 01212151012101516151615.0 -0.5 -1.0 Unemployment rate (percentage of labor force) > >> Draw only the objects specified in the question.Real-Time Data Analysis Exercise* Inflation rate (percent per year) 9.0- *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. 8.0- In April 2021, the most recent month for which we have data, the Bureau of Labor 7.0- Statistics reported an unemployment rate of 6.1 percent and an inflation rate of 4.2 percent. The graph to the right shows this information. 6.0- The Congressional Budget Office says that the natural unemployment rate in April 2021 was 4.5 percent. 5.0- 14.2 1. Draw the long-run Phillips curve and label it. 4.0- 2. Draw a short-run Phillips curve that is consistent with the data provided and 3.0- label it. 2.0- 1.0- :6.1 0.0+ 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Unemployment rate (percentage of labor force) >>> Draw only the objects specified in the question.The economy starts out on the curves AD, and SAS. Price level (GDP deflator, 2009 = 100) + Suppose that people expect deflation (a falling price level), but aggregate demand 240- LAS remains at ADo- Show what happens to the short-run and long-run aggregate supply curve. Label 200- the new curve. SASo Draw a point at the new macroeconomic equilibrium. 160- 120 80- ADo 40- 10 6 8 9 10 11 12 13 14 15 Real GDP (trillions of 2009 dollars) >>> Draw only the objects specified in the