Long-run Phillips curve
What Long-run Phillips curve means in Economics A-Level, as defined for AQA.
Definitions of Long-run Phillips curve
Exam boards and our study guides word this term in slightly different ways. Learn the version your board uses.
Check what you remember
Read the wording for your board, then hide it and explain Long-run Phillips curve in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
L-shaped, or vertical at the natural rate of unemployment, indicating no long-run trade-off between inflation and unemployment.
A curve that is vertical at the natural rate of unemployment.
Topics that use Long-run Phillips curve
- Employment and unemployment (AQA A-Level)
- Possible conflicts between macroeconomic policy objectives (AQA A-Level)
Related terms
- Cyclical unemployment
- Natural rate of unemployment
- Negative output gap
- Supply-side policies
- Causes of unemployment
- Claimant Count
- Demand-side policies
- Economic growth
Using Long-run Phillips curve in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
A week of Premium from your first lesson · Then the free plan continues · No card, no charge