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The long-run Phillips Curve is vertical which indicates
that in the long-run, there is no tradeoff between inflation and unemployment.
that in the long-run, there is no tradeoff between inflation and the price level.
that in the long-run, the economy returns to a 4 percent level of inflation.
None of the above.
The long-run Phillips Curve is vertical which indicates that in the long-run, there is no tradeoff between inflation and unemployment. With a vertical Phillips curve, any inflation rate is consistent with the given unemployment rate.
By: Jyoti Das ProfileResourcesReport error
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