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Thomas Coleman's summary on the Friedman-Phelps NAIRU hypothesis explains the core assertion that: The long-run Phillips Curve is vertical. The long-run Phillips Curve is vertical.
Thomas Coleman's summary on the Friedman-Phelps NAIRU hypothesis explains the core assertion that:
The long-run Phillips Curve is vertical.
The long-run Phillips Curve is vertical.
The short-run Phillips Curve is vertical
The short-run Phillips Curve is vertical
The Phillips Curve is horizontal in both the short-run and long-run
The Phillips Curve is horizontal in both the short-run and long-run
The short-run Phillips Curve is a linear relationship between the rate of inflation and the rate of unemployment
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