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Explain the theory behind the long-run Phillips curve and draw the long-run Phillips curve.
Preferred Stock
A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often paying fixed dividends.
Interest Expense
The cost incurred by an entity for borrowed funds over a period of time, including loans, bonds, or credit lines.
Tax Rate
The percentage at which an individual or corporation is taxed on their income or profits.
Cash Dividend
A distribution of profits by a corporation to its shareholders in the form of cash.
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