Author Question: Refer to Table 20.1. The income tax paid by George, a single taxpayer with an income of 65,000, is ... (Read 129 times)

lb_gilbert · **on:** Jun 29, 2018

Refer to Table 20.1. The income tax paid by George, a single taxpayer with an income of 65,000, is

A) 11,100.
B) 14,745.
C) 15,345.
D) 17,550.

Question 2

When the natural unemployment rate changes, what happens to the short-run Phillips curve? To the long-run Phillips curve?

What will be an ideal response?

macybarnes · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

When the natural unemployment rate changes, both the short-run Phillips curve and the long-run Phillips curve shift. If the natural unemployment rate increases, the Phillips curves shift rightward; if the natural unemployment rate decreases, the Phillips curves shift leftward.