Real-Time Data Analysis Exercise* Date Unemployment rate Ination rate (percentage of labor force) (percent per year) May 2020 11.1 0.2 May 2021 5.9 4.9 *Realtime data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. The table above shows the unemployment rata and ination rate in the United States in May 2020 and May 2021: 1. Draw a point to show the unemployment rate and the ination rate in May 2020 and label it 1. 2. Draw a point to show the unemployment rate and the ination rate in May 2021 and label it2. Ination rate (percent per year) {94' Unemployment rate (percentage of labor force) >>> Draw only the objects specied in the question. Additional Problem 7 Assigned Mediav The ination rate is 6 percent a year, the unemployment rate is 4 percent, and the economy is at full employment. Draw the longmn Phillips curve. Label it LRPC. Draw the shortmn Phillips curve. Label it SRPC. The Fed announces that it intends to slow the money growth rate to keep the ination rate at 3 percent a year tor the foreseeable future. People believe the Fed. Draw an arrow along a curve to show the change in the ination rate and the unemployment rate in the short run and in the long run. Question Help 7 Ination rate (percent per year) D 1 2 3 4 5 6 7 B Unemployment rate {percent of labor force) >>> Draw only the objects specied in the