The Philips Curve Suppose the economy has been experiencing zero inflation and five percent unemployment for several years.

The Philips CurveSuppose the economy has been experiencing zero inflation and five percent unemployment for several years. The government decides to lower the unemployment percentage by generating some inflation. You need to do the following: 1.Using the Grapher tool, create a graph showing what the short-run effects would be and what would happen in the long run. To save the graph, press the Alt+PrintScrn keys simultaneously. Open a Word document and insert the image by pressing the Ctrl+V keys simultaneously. 2.Give reasons to explain what the government would have to do to keep the unemployment rate at 3 percent.Submit answers in the same Word document to your instructor in not more than 100 words.