Draw a graph of a long-run Phillips curve. What does this graph imply about the long-run trade-off between inflation and unemployment? What does this graph imply about the effectiveness of monetary and fiscal policy in the long run?

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The Answer of Draw a graph of a long-run Phillips curve. What does this graph imply about the long-run trade-off between inflation and unemployment? What does this graph imply about the effectiveness of monetary and fiscal policy in the long run?

Draw a Graph of a Long-Run Phillips Curve