In the long run, the Phillips curve is
A)upward sloping.
B)downward sloping.
C)horizontal.
D)vertical.

Name: In the long run, the Phillips curve is A)upward sloping. B)downward sloping. C)horizontal. D)vertical.
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Quizplus · Accepted Answer

In the long run, the Phillips curve is vertical as there is no trade-off between inflation and unemployment in the long run. This means that any attempt to decrease unemployment through expansionary monetary or fiscal policy will only result in higher inflation and no change in unemployment.

In the Long Run, the Phillips Curve Is