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Which of the following is true of the Long Run Phillips Curve (LRPC)?

I. There is no trade-off between unemployment and inflation.
II. It exists at the natural rate of unemployment.
III. It is represented by a downward or negatively sloping curve.

A

I only.

B

II only.

C

III only.

D

I and II only.

E

I, II, and III.

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