Which of the following statements accurately describe the implications of the Long Run Phillips Curve in relation to unemployment and inflation? Select all that apply.

The Long Run Phillips Curve shows that there is no trade-off between unemployment and inflation in the long term. This means that, over time, the economy adjusts, and we cannot keep unemployment low without causing inflation to rise significantly. For example, if a government tries to reduce unemployment by increasing spending, it might work in the short term, but eventually, prices will go up, and unemployment will return to its natural rate. This natural rate of unemployment is where the economy is balanced, and inflation stabilizes. Therefore, in the long run, the focus should be on maintaining stable inflation rather than trying to reduce unemployment at any cost.