In the long run,the Phillips curve is a ________ at ________.

Name: In the long run,the Phillips curve is a ________ at ________.
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In the long run, the Phillips curve is a vertical line at the natural rate of unemployment. This is because, in the long run, wages and prices are flexible, so any changes in aggregate demand only result in changes in the price level without affecting the unemployment rate. Therefore, in the long run, there is no tradeoff between inflation and unemployment.

In the Long Run,the Phillips Curve Is a ________ at ________

In the Long Run,the Phillips Curve Is a at