From the Phillips curve given in (6.7.3), is it possible to estimate the natural rate of unemployment? How? The Engel expenditure curve relates a consumer's expenditure on a commodity to his or her total income. Letting Y = consumption expenditure on a commodity and X = consumer income, consider the following models:
![301_e61f91a9-fdd1-42c2-b7f7-d7ed0ba74515.png](https://secure.tutorsglobe.com/CMSImages/301_e61f91a9-fdd1-42c2-b7f7-d7ed0ba74515.png)
Which of these model(s) would you choose for the Engel expenditure curve and why?