Ap macro frq answers - Score: 8. The response earned the first point in part (a) for drawing a correctly labeled aggregate demand– aggregate supply graph showing PL1 and Y1 at the intersection of AD and SRAS. The response earned the second point in part (a) for correctly showing a vertical LRAS curve to the right of Y1 and labeling the full-employment output as YF.

 
Free Response Questions. Micro: Macro: ... 2022 set 2 2022 set 2 Answers: return to AP Economics Home page .... Arrests.org okaloosa county

AP® Macroeconomics 2023 Scoring Guidelines © 2023 College Board Question 1: Long 10 pointsAP® MACROECONOMICS 2012 SCORING GUIDELINES. Question 1 (continued) (c) 4 points: One point is earned for stating that the current account deficit will increase. One point is earned for explaining that the increase in real GDP increases income, which causes. imports to increase and net exports to decrease.Real AP Past Papers with Multiple-Choice Questions. 1. Assume the economy is operating in long-run equilibrium at the full-employment level of output. (a) Draw a correctly labeled aggregate demand and aggregate supply graph that represents this scenario. (b) Suppose the economy experiences a change in consumer spending due to a sharp increase ...You will only earn credit for what you write in the separate Free Response booklet. 1. The economy of Northland is in short-run equilibrium with an actual unemployment rate of 7% and an actual inflation rate of 1%. The natural unemployment rate in Northland is 5%. Using the relevant numerical values given, draw a correctly labeled graph of the ...2018 SCORING GUIDELINES. Question 1. 10 points (2 + 3 + 2 + 3) (a) 2 points: • One point is earned for drawing a correctly labeled graph for aggregate demand (AD) and short-run aggregate supply (SRAS), showing PL. 1. and Y. 1at the intersection of AD and SRAS. • One point is earned for drawing a vertical LRAS curve to the right of Y.May 11, 2006 ... AP Macroeconomics Discussion! ... 23. <p>official AP Econ chatroom (macro + micro): APEcon</p> ... Some of the stuff covered in the free response I&nbs...1. Assume that the United States economy is currently operating below the full-employment level of real gross domestic product with a balanced budget. (a) Draw a correctly labeled graph of aggregate demand, short-run aggregate supply, and long-run aggregate supply, and show each of the following in the United States. (i) Current output and ...Aug 31, 2018 ... In this video, Sal walks through how to solve question 2 of the 2016 AP Macroeconomics exam. Topics include analyzing reserve requirements ...AP® Macroeconomics 2008 Scoring Guidelines. The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and other educational organizations.QUESTIONS 1–75. Indicate your answers to the exam questions in this section (pages 2 and 3). Mark only one response per question. for Questions 1 through 120. If a question has only four answer options, do not mark option E. Answers written in. the multiple-choice booklet will not be scored. Use a pen with black or dark blue ink. 1. Assume that the country of Rankinland is currently in recession. (a) Assume that Rankinland produces only food and clothing. Draw a correctly labeled production possibilities curve for Rankinland. Show a point that could represent the current output combination and label it A. 2018 SCORING GUIDELINES. Question 1. 10 points (2 + 3 + 2 + 3) (a) 2 points: • One point is earned for drawing a correctly labeled graph for aggregate demand (AD) and short-run aggregate supply (SRAS), showing PL. 1. and Y. 1at the intersection of AD and SRAS. • One point is earned for drawing a vertical LRAS curve to the right of Y.On the AP® Macro FRQ section, you will have three questions to answer in 60 minutes. This 60 minutes includes a 10-minute mandatory reading/planning period. You will have one long essay that makes up 50% of your free-response score, and two shorter essays which each count for 25% of your FRQ score.May 3, 2016 ... AP Macroeconomics Multiple Choice - Part 1. 14K ... AP Macro Exam Unit Summaries. ReviewEcon ... 2022 Macroeconomics FRQ Set 1 Answers! (Best ...If you are using assistive technology and need help accessing these PDFs in another format, contact Services for Students with Disabilities at 212-713-8333 or by email at [email protected]. The 2020 free-response questions are available in the AP Classroom question bank. Download free-response questions from past AP Human …AP ® Macroeconomics 2021 Free-Response Questions . MACROECONOMICS . SECTION II Total Time—1 hour Reading Period—10 minutes . Writing Period—50 minutes . 3 Questions . Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. You will then have 50 minutes to answer all …AP ® Macroeconomics 2021 Free-Response Questions . MACROECONOMICS . SECTION II Total Time—1 hour Reading Period—10 minutes . Writing Period—50 minutes . 3 Questions . Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. You will then have 50 minutes to answer all …Q3 Sample B Page 1 of 1. Q3 Sample C Page 1 of 1. AP. Macroeconomics 2022 Scoring Commentary. Question 3. Note: Student samples are quoted verbatim and may contain spelling and grammatical errors. Overview. The question examined students’ understanding of the foreign exchange market and how changes in the real interest rate affect financial ...1 point. One point is earned for stating that the U.S. current account will be in deficit and for explaining that an increase in the U.S. real GDP increases the U.S.’s demand for European goods and services, which increases imports. 2 points. One point is earned for drawing a correctly labeled graph of the foreign exchange market for the euro.Collect an answer sheet from each student. Check that each answer sheet has an AP number label and an AP Exam label. Then say: Now you must seal your exam booklet. Remove the white seals from the backing and press one on each area of your exam booklet cover marked “PLACE SEAL HERE.”. Fold each seal over the back cover.answer in part (c)(i) would affect value of the U.S. dollar relative to the euro. Sample: 2A Score: 5 . The student answers all parts of the question correctly and earned all 5 points. Sample: 2B Score: 3 . The student did not earn 1 point in part (c)(i) because the response incorrectly states that the demand for U.S. dollars increases.1. A firm has a patent on a new carbon-capture technology, making it the only producer of that device. The firm is curently earning a positive economic profit and is producing the profit-maximizing level of output. (a) Draw a correctly labeled graph for the firm and show each of the following. The quantity of carbon-capture devices produced by ...Download free-response questions from past exams along with scoring guidelines, sample responses from exam takers, and scoring distributions. If you are using assistive technology and need help accessing these PDFs in another format, contact Services for Students with Disabilities at 212-713-8333 or by email at [email protected]. The ...Scoring Guidelines: 13 points (3+1+3+2+1+3) (a) 3 points: - AD/AS graph with full-employment output shown. - showing below full-employment equilibrium. - current price level and output. Question 1 (cont’d.) (b) 1 point: for identifying correct monetary policy: buy bonds. (c) 3 points: - correct graph of the money market.May 3, 2016 ... AP Macroeconomics Multiple Choice - Part 1. 14K ... AP Macro Exam Unit Summaries. ReviewEcon ... 2022 Macroeconomics FRQ Set 1 Answers! (Best ...Nov 6, 2019 ... Share your videos with friends, family, and the world.The natural rate of unemployment is 5%, the frictional rate of unemployment is 4%, and the actual rate of unemployment is 7%. (a) What is the numerical value of the cyclical rate of unemployment in Flowerland? (b) Assume the foreign demand for lavender oil produced in Flowerland increases.AP® Macroeconomics 2009 Scoring Guidelines Form B The College Board The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,600 schools, colleges, universities and other educational organizations.May 6, 2020 ... This video goes over how to answer Free Response Question #2 from the 2019 AP Macroeconomics Exam. This questions aligns best with Unit 5 ...AP ® Macroeconomics Exam SECTION II: Free Response, Questions DO NOT OPEN THIS BOOKLET UNTIL YOU ARE TOLD TO DO SO. At a Glance Total Time 1 hour Number of Questions 3 Percent of Total Score 33% Writing Instrument Pen with black or dark blue ink Electronic Device None allowed Reading Period Time 10 minutes. Use this time to read the questions ...2018 AP ® MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time—1 hour . Reading Period— 10 minutes . Writing Period— 50 minutes . Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. You will then have 50 minutes to answer all three of the following ...1. Assume that the economy of Meekland is in a long-run equilibrium with a balanced government budget. (a) Using a correctly labeled graph of aggregate supply and aggregate demand, show each of the following. (i) Long-run aggregate supply. (ii) The output level, labeled YE, and the price level, labeled PL E. (b) Assume consumer confidence falls. 2 points: One point is earned for stating that the interest rate rise found in (b) will result in a decrease in the rate of economic growth. One point is earned for explaining that the interest rate increase reduces investment, which causes. decline in the rate of growth of the capital stock. 6 points (3 + 1 + 2) AP Test 2012 2022 ap macroeconomics questions set 2022 college board. college board, advanced placement, ap, ... Ap22 frq macroeconomics set 2. AP Test 2012. Subject. ... You are advised to spend the first 10 minutes reading all of …The AP Macroeconomics course covers the principles of economics that apply to an economic system as a whole. It emphasizes the study of national income, price determination, economic performance measures, economic growth, and international economics. The AP Macro Exam format is: Multiple-Choice : 70 minutes, 66% of exam …AP® Macroeconomics 2005 Free-Response Questions The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 4,700 schools, colleges, universities, and other AP® Macroeconomics 2008 Scoring Guidelines Form B The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and other The upcoming blockbuster is one of the highest-rated trilogy films ever. From The Godfather, Part III to Matrix Revolutions, there’s a long history of otherwise great trilogies dis... Visit the College Board on the Web: www.collegeboard.org. AP Central is the official online home for the AP Program: apcentral.collegeboard.org. 10 points (2+1+2+3+2) 2 points: One point is earned for drawing a correctly labeled graph showing AD, SRAS, Y1 and PL1. One point is earned for drawing a vertical LRAS at Yf to the right of Y1. 1 point: AP® Macroeconomics 2009 Scoring Guidelines Form B The College Board The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,600 schools, colleges, universities and other educational organizations.Buy How to Ace That 2020 AP Macroeconomics Exam: Free Response Question Guide: Perfectly Designed For Students Self-Studying During The 2020 Altered AP ...Oct 7, 2015 ... Take the exams from past years and see what you need to improve on. Do the free response too. And do it timed. AP tests aren't just hard for the ...AP Macroeconomics Past Exam Questions. Free Response Questions. Please note: Effective June 1, 2022, some questions from previous AP Macroeconomics Exams …AP Central is the official online home for the AP Program: apcentral.collegeboard.com. 11 Points (2 + 2 + 1 + 4 + 2) 2 points: One point is earned for a correctly labeled graph of the short-run Phillips curve (SRPC). One point is earned for showing a vertical long-run Phillips curve (LRPC) and the point A to the right of the LRPC on the SRPC.Section I of this exam contains 60 multiple-choice questions. Fill in only the circles for. numbers 1 through 60 on your answer sheet. Indicate all of your answers to the multiple-choice questions on the answer sheet. No. credit will be given for anything written in this exam booklet, but you may use the booklet.Dec 1, 2020 ... ... answers 2. Know the concepts covered on the ... FRQs and full-length practice exams for you ... AP Macro Exam Unit Summaries. ReviewEcon ... AP® Macroeconomics 2008 Scoring Guidelines Form B The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and other AP Macroeconomics 2001 Scoring Guidelines. The materials included in these files are intended for non-commercial use by AP teachers for course and exam preparation; permission for any other use must be sought from the Advanced Placement Program. Teachers may reproduce them, in whole or in part, in limited quantities, for face-to-face teaching ... You will only earn credit for what you write in the separate Free Response booklet. 1. The economy of Northland is in short-run equilibrium with an actual unemployment rate of 7% and an actual inflation rate of 1%. The natural unemployment rate in Northland is 5%. Using the relevant numerical values given, draw a correctly labeled graph of the ... AP® Macroeconomics 2008 Scoring Guidelines Form B The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and otherAP Central is the oficial online home for the AP Program: apcentral.collegeboard.org. AP® Macroeconomics 2022 Scoring Guidelines. Question 3: Short. 5 points. (a) State increase taxes, decrease government spending, or decrease transfer payments. 1 point.Terms in this set (8) government spending increases. graph one SRPC line have a point for A above the intersection at 5 and above it a point for B. the price of crude oil and most sources of energy decrease. draw a original SRPC graph then draw another one below it showing a shift to point A. inflation expectations rise from 3% to 6%.Bank balance sheet free response question. Google Classroom. About. Transcript. In this video, Sal walks through how to solve question 2 of the 2016 AP Macroeconomics exam. Topics include analyzing reserve requirements, determining the …On the AP® Macro FRQ section, you will have three questions to answer in 60 minutes. This 60 minutes includes a 10-minute mandatory reading/planning period. You will have one long essay that makes up 50% of your free-response score, and two shorter essays which each count for 25% of your FRQ score.2022 College Board. Visit College Board on the web: collegeboard.org. AP® Macroeconomics 2022 Scoring Commentary. Question 1 (continued) labelling the full-employment output YF. The response did not earn the point in part (b) because it does not show an increase in aggregate demand. The response did not earn the point in part (c) because it ...answer all parts of the question correctly and earned all because of supply ( will increase due to an increase in capital stock formation. AP ® MACROECONOMICS 2018 SCORING COMMENTARY . Question 2 . Overview . The question examined students’ knowledge and understanding of the impact of a change in tax policy on theThe AP Macroeconomics Exam includes two sections. The first section contains 60 multiple-choice questions. The second section is the free-response section, which includes one long question and two short questions. Below is a detailed breakdown of both the multiple choice and free-response sections. Starting with the 2023 exam, a four-function ...1. Assume that the United States economy is currently operating below the full-employment level of real gross domestic product with a balanced budget. (a) Draw a correctly labeled graph of aggregate demand, short-run aggregate supply, and long-run aggregate supply, and show each of the following in the United States. (i) Current output and ...AP® Macroeconomics 2009 Scoring Guidelines Form B The College Board The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,600 schools, colleges, universities and other educational organizations.1. AP. Microeconomics 2022 Free-Response Questions. Sugar is produced in a perfectly competitive market using inputs from perfectly competitive factor markets. Frank Sugar Co. is a representative firm in the sugar market. (a) Assume Frank Sugar Co. is earning zero economic profit.AP Macroeconomics 2000 Scoring Guidelines. The materials included in these files are intended for non-commercial use by AP teachers for course and exam preparation; permission for any other use must be sought from the Advanced Placement Program. Teachers may reproduce them, in whole or in part, in limited quantities, for face-to-face …AP® Macroeconomics 2003 Scoring Guidelines Form B. The materials included in these files are intended for use by AP teachers for course and exam preparation; permission for any other use must be sought from the Advanced Placement Program®. Teachers may reproduce them, in whole or in part, in limited quantities for noncommercial, face-to-face ...If you’ve ever experimented with food tracking, you probably know that it’s really easy to track the calories and nutritional macros in a can of chicken noodle soup or a box of cho... Use a pen with black or dark blue ink. 1. Assume that the economy of Country X has an actual unemployment rate of 7%, a natural rate of unemployment of 5%, and an inflation rate of 3%. (a) Using the numerical values given above, draw a correctly labeled graph of the short-run and long-run Phillips curves. Label the current short-run equilibrium ... 12 Points. (2 + 6 + 4) 2 points: One point is earned for a correctly labeled graph of the production possibilities curve (PPC). One point is earned for showing point A inside the PPC. 6 points: One point is earned for identifying the buying of bonds as the correct open-market operation to use. One point is earned for drawing a correctly labeled ...AP® Macroeconomics 2008 Scoring Guidelines Form B The College Board: Connecting Students to College Success The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and otherAP Central is the official online home for the AP Program: apcentral.collegeboard.com. 12 points (4 + 4 + 2 + 2) (a) 4 points: One point is earned for a correctly labeled graph. One point is earned for showing a rightward shift in New Zealand’s AD curve. One point is earned for the explanation that New Zealand’s exports to Australia increase.AP® MACROECONOMICS 2019 SCORING GUIDELINES © 2019 The College Board. Visit the College Board on the Web: collegeboard.org. Question 1 (continued) One point is …If your app doesn't have this feature, you can create it yourself. If you’re tracking what you eat, most items are easy enough: You either search for what it is (for example, four ...Here is a quick, low edit, video covering my best guesses as to what the answers to the 2023 Macroeconomics Set 1 FRQ will be when the rubrics are officially...AP Central is the oficial online home for the AP Program: apcentral.collegeboard.org. AP® Macroeconomics 2022 Scoring Guidelines. Question 3: Short. 5 points. (a) State increase taxes, decrease government spending, or decrease transfer payments. 1 point.Sample AP Macroeconomics Free-Response Questions . Here are two examples of the types of free-response questions you'll see on the AP Macro exam. For each question, we'll go through the answers so you can see exactly how points are earned. All sample questions come from the 2019 AP Macroeconomics exam. Long Free-Response Question AP Central is the official online home for the AP Program: apcentral.collegeboard.com. 12 points (4 + 4 + 2 + 2) (a) 4 points: One point is earned for a correctly labeled graph. One point is earned for showing a rightward shift in New Zealand’s AD curve. One point is earned for the explanation that New Zealand’s exports to Australia increase. Exam Skills. Learn all about the AP Macroeconomics exam! Learn how to manage the multiple choice questions (MCQs) and how to write great FRQs. Brush up on exam logistics, types of questions, how to draw graphs, helpful tips, sample questions, and practice prompts, With these useful strategies and practice, you'll be prepared to knock the exam …Use a pen with black or dark blue ink. 1. Assume that the country of Rankinland is currently in recession. (a) Assume that Rankinland produces only food and clothing. Draw a correctly labeled production possibilities curve for Rankinland. Show a point that could represent the current output combination and label it A.Use a pen with black or dark blue ink. 1. Assume that the country of Rankinland is currently in recession. (a) Assume that Rankinland produces only food and clothing. Draw a correctly labeled production possibilities curve for Rankinland. Show a point that could represent the current output combination and label it A.Close your booklet and put your answer sheet on your desk, faceup. Make sure you have your AP number label and an AP Exam label on page 1 of your answer sheet. Sit quietly while I collect your answer sheets. 2018-19 AP Exam Instructions. AP Economics Exams. AP Economics Exams. 79. 2018-19 AP Exam Instructions. Collect an answer sheet from …1 point. One point is earned for stating that the U.S. current account will be in deficit and for explaining that an increase in the U.S. real GDP increases the U.S.’s demand for European goods and services, which increases imports. 2 points. One point is earned for drawing a correctly labeled graph of the foreign exchange market for the euro.GDP falls 2. Labor force participation rate. labor force/population x 100. unemployment rate. number of unemployed/labor force x 100. Full employment. Natural rate of unemployment, number of unemployed equals job vacancies. Study with Quizlet and memorize flashcards containing terms like % change in GDP, CPI, Inflation rate/% change in price ...Macroeconomics Practice Exam From the 2013 Administration This Practice Exam is provided by the College Board for AP Exam preparation. Teachers are permitted to download the materials and make copies to use with their students in a classr oom setting only. To maintain the security of this exam, teachers should collect all materials after …AP ® Macroeconomics Exam SECTION II: Free Response, Questions DO NOT OPEN THIS BOOKLET UNTIL YOU ARE TOLD TO DO SO. At a Glance Total Time 1 hour Number of Questions 3 Percent of Total Score 33% Writing Instrument Pen with black or dark blue ink Electronic Device None allowed Reading Period Time 10 minutes. Use this …How can you properly frame a shot when the lens keeps changing? Has this happened to you? You turn on your iPhone’s camera to take a photo, only to see something strange: Your phon...

Congratulations! You're done with AP Macro. I made this video covering the 2023 FRQs. Let me know how you did on these questions in the comments. Thanks for .... Car accident in winchendon ma today

ap macro frq answers

GDP falls 2. Labor force participation rate. labor force/population x 100. unemployment rate. number of unemployed/labor force x 100. Full employment. Natural rate of unemployment, number of unemployed equals job vacancies. Study with Quizlet and memorize flashcards containing terms like % change in GDP, CPI, Inflation rate/% change in price ...AP Central is the official online home for the AP Program: apcentral.collegeboard.org. MACROECONOMICS. Section II Planning Time—10 minutes Writing Time—50 minutes. …AP® Macroeconomics 2010 Free-Response Questions The College Board The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the College Board is composed of more than 5,700 schools, colleges, universities and other educational organizations.The natural rate of unemployment is 5%, the frictional rate of unemployment is 4%, and the actual rate of unemployment is 7%. (a) What is the numerical value of the cyclical rate of unemployment in Flowerland? (b) Assume the foreign demand for lavender oil produced in Flowerland increases.Grading Rubric: Point allocations: [1+4+1+1+4=11 points] a) 1 point:Fiscal Policy to reduce unemployment: G up or T down (or increase in Transfer payments) b)1 Point for each of the 4 responses = 4 points 1 point:Correctly labeled AS and AD graph with appropriate slopes (even vertical AS okay for this point).AP® Macroeconomics 2004 Scoring Guidelines Form B. The materials included in these files are intended for noncommercial use by AP teachers for course and exam preparation; permission for any other use must be sought from the Advanced Placement Program®. Teachers may reproduce them, in whole or in part, in limited quantities, for face-to-face ...Q3 Sample B Page 1 of 1. Q3 Sample C Page 1 of 1. AP. Macroeconomics 2022 Scoring Commentary. Question 3. Note: Student samples are quoted verbatim and may contain spelling and grammatical errors. Overview. The question examined students’ understanding of the foreign exchange market and how changes in the real interest rate affect financial ...Here is a quick, low edit, video covering my best guesses as to what the answers to the 2023 Macroeconomics Set 2 FRQ will be when the rubrics are officially...This is a full set of answers I have written for the 2023 AP® US Government and Politics Free Response Questions (FRQs). These answers are reflective of both my own experience teaching the course and additional feedback very generously provided to me by colleagues who read the initial draft. One sample response is provided for each item for ...AP Macroeconomics 2000 Scoring Guidelines. The materials included in these files are intended for non-commercial use by AP teachers for course and exam preparation; permission for any other use must be sought from the Advanced Placement Program. Teachers may reproduce them, in whole or in part, in limited quantities, for face-to-face teaching ...AP. MACROECONOMICS 2017 SCORING GUIDELINES. 6. (2 + 2 +1 + 1) (a) 2 points: • One point is earned for drawing a correctly labeled graph of the money market. • One point is earned for showing a leftward shift in the money demand curve, resulting in a lower nominal interest rate. (b) 2 points: • One point is earned for stating that the ...This PDF practice test includes 60 questions along with an answer key. Covers a lot of important concepts. Mankiw Textbook Quizzes. AP Macro multiple choice questions for …AP Microeconomics Exam. Regularly Scheduled Exam Date: Friday morning, May 18, 2018 Late-Testing Exam Date: Wednesday morning, May 23, 2018 Section I Total Time: 1 hour and 10 minutes Calculator not permitted Number of Questions: 60 (The number of questions may vary slightly depending on the form of the exam.)The AP Macroeconomics Exam will test your understanding of the economic concepts covered in the course, as well as your ability to define economic principles and models; …The student answers all parts of the question correctly and earned all 10 points. AP ® MACROECONOMICS 2019 SCORING COMMENTARY . Question 1 (continued) Sample: 1B Score: 6 . The student did not earn 1 point in part (b)(i) because the response does not explain that nominal wages wouldUse a pen with black or dark blue ink. 1. Assume that the economy of Country X has an actual unemployment rate of 7%, a natural rate of unemployment of 5%, and an inflation rate of 3%. (a) Using the numerical values given above, draw a correctly labeled graph of the short-run and long-run Phillips curves. Label the current short-run equilibrium ....

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