The long-run Phillips curve is
A. vertical at potential GDP.
B. the horizontal sum of the short-run Phillips curves.
C. vertical at the natural unemployment rate.
D. the vertical sum of the short-run Phillips curves.
Answer:C
The long-run Phillips curve is
A. vertical at potential GDP. B. the horizontal sum of the short-run Phillips curves. C. vertical at the natural unemployment rate. D. the vertical sum of the short-run Phillips curves.