Which of the diagrams in the above figure best illustrates a long-run Phillips curve?
A) Figure A
B) Figure B
C) both Figure A and Figure B
D) neither Figure A nor Figure B

Question

Quizplus · Accepted Answer

The long-run Phillips curve is typically represented as a vertical line, indicating that there is no trade-off between inflation and unemployment in the long run.

Which of the Diagrams in the Above Figure Best Illustrates