In 1972, economist Milton Friedman stated that Phillips' relationship was only temporary, and thus only applicable in the short-run. Friedman contended that people will over time anticipate the correct value of inflation and adjust their actions accordingly. These expectations mitigate policymakers' attempts to control unemployment through inflationary policies. Thus, Friedman believed that in the long-run, there is no relationship between inflation and unemployment. Friedman's analysis of inflation and unemployment is summarized by the following equation: Unemployment Rate = Natural Rate of Unemployment- a (Actual Inflation - Expected Inflation), where a is a positive constant, and the natural rate of unemployment is the normal unemployment that an economy rexperiences because people are continually quitting and searching for jobs. At the end of 2021, the unemployment rate in the U.S. was 6%. The Federal Reserve has stated that it will conduct monetary policy to decrease this unemployment rate during 2022. Suppose that the natural rate of unemployment is 6%, the value of a is one, and the public expects inflation of 3%. Using the above information, which of the answer choices gives correct values of inflation in 2022 that support Phillips' theory and Friedman's theory, respectively? Phillips: 1\%; Friedman: 1% Phillips: 2\%; Friedman: 6% Phillips: 4\%; Friedman: 3\% Phillips: 5%; Friedman: 8%