1 1 unread reply. 1 1 reply. image.pngThe previous chapter introduced the Phillips curve from a Keynesian perspective, and in that section, we saw a tradeoff between inflation and unemployment. When we look at this from a long-run, Neoclassical perspective in Section 2, we see the Phillips curve become vertical, indicating no relation between unemployment and inflation. image.png When we look at this from a long-run, Neoclassical perspective in Section 2, we see the Phillips curve become vertical, indicating no relation between unemployment and inflation. In this discussion, your task is to: Explain why we see this difference in the short- and long-run, and create a practical example to illustrate this difference Explain an advantage of thinking in the long run