g For each of the following scenarios, illustrate the effects of the development on both the short-run and long-run Phillips curves (SRPC and LRPC, respectively). There is a rise in the natural rate of unemployment. SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is an advance in technology that makes production more efficient. SRPC Movement along SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is a rise in government spending. SRPC Movement along SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is a decline in expected inflation. SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC