Inflation and unemployment data for Acadia can be found in the table below.Year201820192020ion Rate (%)5Inflation Rate (%)+4.72.63.5a. Draw a graph showing the Phillips curve for Acadia based on the values for inflation and unemployment in this economy from 2018to 2020. Plot 3 points in total to draw the Phillips curve for Acadia below. Plot the plotting points in the order 2018, 2020 and then2019.Unemployment Rate (%)Phillips Curvefor Acadia5.78.96.8ToolsPhillips CurveⓇ b. The change that takes place between 2018 and 2019 could be caused by (Click to select) stabilization polices.The change that takes place between 2019 and 2020 could have been caused by (Click to select) ✓stabilization polices.c. Suppose that in 2021 the inflation rate is 6% and the unemployment rate is 11%. What has happened to the Phillips curve for Acadia?What could explain this change?Because the inflation rate is (Click to select) and the unemployment rate is (Click to select) than the values for these two variablesduring 2018 to 2020, the Phillips curve for Acadia has shifted (Click to select)This shift is likely due to a(n)| (Click to select) ✓in (Click to select)A drop in labour productivity.A reduction in input prices.An increase in investment spending.O A decrease in the consumption of durable items.Vwith one of the following factors as a possible cause:

Phillips curve shows the inverse relationship between Inflation rate and unemployment rate. When…

Inflation and unemployment data for Acadia can be found in the table below. Year 2018 in Rate (%) 2019 2020 5 Inflation Rate (3) 3 4.7 2.6 3.5 a. Draw a graph showing the Phillips curve for Acadia based on the values for inflation and unemployment in this economy from 2018 to 2020. Plot 3 points in total to draw the Phillips curve for Acadia below. Plot the plotting points in the order 2018, 2020 and then 2019. Unemployment Rate (³) Phillips Curve for Acadia 5.7 8.9 6.8 Tools d Phillips Curve

Inflation and unemployment data for Acadia can be found in the table below. Year 2018 in Rate (%) 2019 2020 5 Inflation Rate (3) 3 4.7 2.6 3.5 a. Draw a graph showing the Phillips curve for Acadia based on the values for inflation and unemployment in this economy from 2018 to 2020. Plot 3 points in total to draw the Phillips curve for Acadia below. Plot the plotting points in the order 2018, 2020 and then 2019. Unemployment Rate (³) Phillips Curve for Acadia 5.7 8.9 6.8 Tools d Phillips Curve

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Inflation and unemployment data for Acadia can be found in the table below.
Year
2018
2019
2020
ion Rate (%)
5
Inflation Rate (%)
+
4.7
2.6
3.5
a. Draw a graph showing the Phillips curve for Acadia based on the values for inflation and unemployment in this economy from 2018
to 2020. Plot 3 points in total to draw the Phillips curve for Acadia below. Plot the plotting points in the order 2018, 2020 and then
2019.
Unemployment Rate (%)
Phillips Curve
for Acadia
5.7
8.9
6.8
Tools
Phillips Curve
Ⓡ

b. The change that takes place between 2018 and 2019 could be caused by (Click to select) stabilization polices.
The change that takes place between 2019 and 2020 could have been caused by (Click to select) ✓stabilization polices.
c. Suppose that in 2021 the inflation rate is 6% and the unemployment rate is 11%. What has happened to the Phillips curve for Acadia?
What could explain this change?
Because the inflation rate is (Click to select) and the unemployment rate is (Click to select) than the values for these two variables
during 2018 to 2020, the Phillips curve for Acadia has shifted (Click to select)
This shift is likely due to a(n)| (Click to select) ✓in (Click to select)
A drop in labour productivity.
A reduction in input prices.
An increase in investment spending.
O A decrease in the consumption of durable items.
V
with one of the following factors as a possible cause:

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Step 1: Meaning of Phillips curve.

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Step 2: Drawing the Phillips curve

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Step 4: Explanation for rightward shift of Philips Curve.

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