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Business, 02.02.2022 03:40 CodyJ7777

The vertical Phillips curve occurs in the long run because economic agents are quick to respond to changes in the price level. the aggregate supply curve is vertical which means that: a) changes in aggregate demand will not change unemployment.
b) of lags in monetary and fiscal policies.
c) wage and price rigidities prevent changes in aggregate demand to change unemployment.

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The vertical Phillips curve occurs in the long run because economic agents are quick to respond to c...
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