Phillips curve (long-run): A vertical line at the natural rate of unemployment, indicating no long-run trade-off between inflation and unemployment.
How to apply it: Explain that in the long run, the economy returns to the natural rate of unemployment regardless of the inflation rate.
Course: AP Macroeconomics · Unit: Long-Run Consequences of Stabilization Policies
Practice questions about Phillips curve (long-run) on AimFive — get rubric-based feedback showing exactly which points you earned.
AP and Advanced Placement are trademarks of College Board. AimFive is not affiliated with or endorsed by College Board.