In the context of the Phillips Curve, the long-run Phillips Curve is:
A. Upward sloping
B. Horizontal
C. Downward sloping
D. Vertical at the natural rate of unemployment
Answer: Option D
Solution (By JKSSB Mock Tests)
In the long run, the Phillips Curve is vertical at the natural rate of unemployment, indicating no permanent trade-off between inflation and unemployment.
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