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The long-run Phillips curve: shows the positive relationship between the unemployment rate and the inflation rate.

The long-run Phillips curve:

A. shows the positive relationship between the unemployment rate and the inflation rate.

B. explains how expansionary policies can affect an economy, while contractionary policies have little effect.

C. suggests that policies have little effect on the natural rate of unemployment in the long run.

D. depicts the negative relationship between the unemployment rate and the inflation rate.

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