11) Suppose the economy is operating at the natural rate of unemployment with a high rate of inflation (point A in Exhibit 1). Suppose the central bank announces a sudden monetary
contraction to reduce inflation. Shown below are two possible paths the economy might take to
adjust to the new lower rate of money growth. Choose the path that best depicts what might
happen in each of the following cases and explain your reasoning,​

The answer for edgenuity is c: color

Part (a) is relatively straight forward.there are 4 aces in a standard 52-card deck. so the probability that an ace is picked is just 4/52.part (b): note that there are 4 suits in a standard 52-card deck. so picking hearts will be 13/52 or 1/4.part (c): the probability condition or means we need to add the two probabilities because we do not want them simultaneously. so, we end up getting pr(ace) + pr(heart).from part (a), we found that picking an ace had a probability of 4/52, which is reduced down to 1/13.from part (b), we found that picking a heart had a probability of 1/4.so, the probability of an ace or a heart is 1/13 + 1/4 = 4/52 + 13/52 = 17/52.