True or False: The Long Run Phillips Curve suggests that in the long run, higher inflation will always result in lower unemployment, regardless of an economy's natural rate of unemployment.

The statement is false. The Long Run Phillips Curve suggests that in the long run, there is no trade-off between inflation and unemployment. Instead, it shows that the economy will eventually return to its natural rate of unemployment, which is the level of unemployment that occurs when the economy is healthy and stable. For example, if a country tries to keep inflation high to reduce unemployment, it may work in the short term, but eventually, inflation will rise and the unemployment rate will return to its natural level. This means that in the long run, higher inflation does not lead to permanently lower unemployment.