If the Phillips curve is vertical in the long run, then

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If the Phillips curve is vertical in the long run, it means that there is no trade-off between inflation and unemployment in the long run. In other words, policymakers cannot permanently lower unemployment by increasing inflation, and vice versa. This is because the economy's natural rate of unemployment is determined by structural factors such as demographics, technology, and institutions, and is therefore independent of the inflation rate.

If the Phillips Curve Is Vertical in the Long Run