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Why does unemployment persist at the natural rate even when the economy is at potential GDP?
What are the implications of a vertical long run aggregate supply curve in the ADAS model?
What types of unemployment contribute to the natural rate of unemployment?
In what way does the long run Phillips curve differ from the short run Phillips curve regarding unemployment and inflation dynamics?
Which of the following best describes NAIRU?
Why is the long run Phillips curve limited in predicting short-term economic fluctuations?
What does the vertical nature of the long run Phillips curve indicate about inflation and unemployment?
In the long run, how do changes in aggregate demand affect unemployment?
What shape does the long run Phillips curve take?
How does the long run Phillips curve illustrate the relationship between inflation and unemployment?