Question

Assume the economy is operating below the full employment level of output:

Congress votes to decrease business taxes on all small businesses in the United States. Using a correctly drawn AD/AS graph, show and explain how this change will affect each of the following in the short-run:
Output
Price level
Using a correctly drawn and labeled Phillips curve, show and explain how this policy will affect each of the following as the economy approaches a new equilibrium:
the Phillips curve
the natural rate of unemployment