Economics · Macroeconomics

According to Milton Friedman, what is the shape of the Long-Run Phillips Curve (LRPC)?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Downward sloping from left to right
2Upward sloping from left to right
3Horizontal line parallel to the X-axis
4Vertical line parallel to the Y-axis✓

Correct answer

Vertical line parallel to the Y-axis

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According to Milton Friedman, what is the shape of the Long-Run Phillips Curve (LRPC)?

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