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Use the following to answer questions
Figure: Understanding Phillips Curves Use the following to answer questions  Figure: Understanding Phillips Curves   -(Figure: Understanding Phillips Curves) What is the natural rate of unemployment associated with Phillips curve PC<sub>a</sub>? A)  zero B)  3% C)  4% D)  5%
-(Figure: Understanding Phillips Curves) What is the natural rate of unemployment associated with Phillips curve PCa?


Definitions:

State Taxes Paid

State Taxes Paid includes any taxes that individuals or businesses pay to state governments, which can include income tax, sales tax, and property tax.

Tax Return

A formal document filed with a government body, reporting income, expenses, and other pertinent tax information, used to calculate tax liability.

Reports Income

The process of declaring income received during a tax year on one's tax return.

Taxpayer

A person or organization required to remit taxes to governmental bodies at any level, including federal, state, or municipal.

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