The following graph shows an economy in long-run equilibrium at point A (grey star symbol). The vertical line is the long-run Phillips curve (LRPC). The downward-sloping curve labeled SRPC, is the short-run Phillips curve passing through point A. 8 SRPC + LRPC B 6 A 5 SRPC? 4 INFLATION RATE (Percent) 3 C 0 1 2 3 4 5 6 7 8 UNEMPLOYMENT RATE (Percent)