1. Predict the impact the following variables would have on

1. Predict the impact the following variables would have on.
1. Predict the impact the following variables would have on aggregate supply.a. higher minimum wagesb. corporate tax rate cutc. state government cuts in educationd. federal research in green technology2. Suppose the following data represents points along a Phillips curve. Is the data consistent with what you would expect? Why?DATA A: Inflation Rate of 0% and Unemployment Rate of 5.00%DATA B: Inflation Rate of 1% and Unemployment Rate of 4.50%DATA C: Inflation Rate of 2% and Unemployment Rate of 3.75%DATA D: Inflation Rate of 3% and Unemployment Rate of 2.75%DATA E: Inflation Rate of 4% and Unemployment Rate of 1.50%3. How would Cost-of-Living Adjustments weaken the ability of the central bank to exploit the trade-off between inflation and unemployment?4. If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same? What if productivity increases more than nominal wages?4. If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same? What if productivity increases more than nominal wages?5. Does stagflation contradict the theory of the Phillips curve?What is a Phillips Curve? Does anyone really believe it exists? How would the curve shift, and are their any negative consequences of trying to shift the Phillips Curve?6. What is a Phillips Curve? Does anyone really believe it exists? How would the curve shift, and are their any negative consequences of trying to shift the Phillips Curve?7. Importing more goods and services into the U.S. is always a good thing to do economically. Explain why you agree or disagree. Is it possible for one country to profit more off trade than another country?
1. Predict the impact the following variables would have on