The long-run Phillips Curve is vertical at the natural rate of unemployment.

Name: The long-run Phillips Curve is vertical at the natural rate of unemployment.
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In the long run, the Phillips Curve is vertical at the natural rate of unemployment, which means that there is no trade-off between inflation and unemployment. This is because in the long run, the economy returns to its potential output level and there are no persistent effects on the unemployment rate from changes in inflation.

The Long-Run Phillips Curve Is Vertical at the Natural Rate