Use the following information to draw a graph showing the short-run and long-run Phillips curves.
Natural rate of unemployment = 5 per cent
Current rate of unemployment = 3 per cent
Expected inflation rate = 2.9 per cent
Current inflation rate = 6.2 per cent

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The Answer of Use the following information to draw a graph showing the short-run and long-run Phillips curves.
Natural rate of unemployment = 5 per cent
Current rate of unemployment = 3 per cent
Expected inflation rate = 2.9 per cent
Current inflation rate = 6.2 per cent

Use the Following Information to Draw a Graph Showing the Short-Run