Question

what is the space of the long-run philips curve​

Answer 1

Answer:

long-run Phillips curve (“LRPC”)

a curve illustrating that there is no relationship between the unemployment rate and inflation in the long-run; the LRPC is vertical at the natural rate of unemployment.

Answer 2

Answer:

long-run Phillips curve (“LRPC”)

a curve illustrating that there is no relationship between the unemployment rate and inflation in the long-run; the LRPC is vertical at the natural rate of unemployment.