Refer to Table 20.1. The income tax paid by George, a single ...

[lb_gilbert]

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]

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.

[lb_gilbert]

Thanks for the timely response, appreciate it

[raili21]

Gracias!