The long-run Phillips curve shows that in the long run, policymakers can
A. lower unemployment if they are willing to accept more inflation forever.
B. lower inflation if they are willing to accept higher unemployment forever.
C. choose the unemployment rate but not the inflation rate.
D. lower inflation without increasing unemployment.
Answer:D
The long-run Phillips curve shows that in the long run, policymakers can
A. lower unemployment if they are willing to accept more inflation forever. B. lower inflation if they are willing to accept higher unemployment forever. C. choose the unemployment rate but not the inflation rate. D. lower inflation without increasing unemployment.