In 2012 the Cleveland Federal Reserve Estimated That the Expected

Multiple Choice

In 2012 the Cleveland Federal Reserve estimated that the expected inflation rate was 1.5 percent, the actual inflation rate was 2.1 percent, and the unemployment rate was 8.1 percent. A point on the short-run Phillips curve is the

A) difference between the actual and expected inflation rates (0.6 percent) and the unemployment rate of 8.1 percent.
B) inflation rate of 2.1 percent and the expected inflation rate of 1.5 percent.
C) expected inflation rate of 1.5 percent and the unemployment rate of 8.1 percent.
D) inflation rate of 2.1 percent and the unemployment rate of 8.1 percent.