QUESTION 46 2 points Saved For a given short-run Phillips curve, if expected inflation is 10% but actual inflation is 8%, is the unemployment rate above or below its natural rate? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt V A v v TX . . . E E E X2 X2 1BC V X EXE TT (;} O (? + It is below because G P 4 WORDS POWERED BY TINYWage 150 125 Labor supply 100 75 50 Labor demand 25 0 15 20 25 30 35 40 Quantity of Labor Refer to the figure above. At a minimum wage of $125, how much is the surplus of labor? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)