The following graph plots the short-run and long-run Phillips curves (SRPC and LRPC, respectively) for an economy currently experiencing long-run macroeconomic equilibrium at point A, where the natural unemployment rate is 6% and the inflation rate is 8% per year. ? 20 LRPC 18 16 14 12 10 INFLATION RATE (Percent) A Co SRPC No 2 3 5 6 9 10 UNEMPLOYMENT RATE (Percent)Suppose that the central bank for this economy has decided that inflation is too high and thus wants to decrease the inflation rate by 6 percentage points per year. A reduction in the rate of inflation is known as . To reduce inflation from 8% to 2% in the short run, the central bank would have to accept an unemployment rate of % True or False: If people have rational expectations, the economy will experience a higher unemployment rate than predicted by the short-run Phillips curve. O True O False