There is a different short-run Phillips curve for every level of the inflation rate. The inflation rate at which the short-run Phillips curve intersects the long-run Phillips curve equals the inflation rate.\

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Explanation:

The Phillips curve is an economic concept whereby it is stated that there is a stable and inverse relationship between inflation and the unemployment in an economy.

According to this theory, inflation is as a result of economic growth and this will lead to reduction in unemployment.

There is a different short-run Phillips curve for every level of the expected inflation rate. The inflation rate at which the short-run Phillips curve intersects the long-run Phillips curve equals the expected inflation rate.

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