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When people in Western countries try to find reasons for someone else's behavior, they tend to:
Long-Run Phillips
Describes the relationship between unemployment and inflation over a longer period, suggesting that in the long run, there is no trade-off between inflation and unemployment.
Natural Rate
The long-term rate of unemployment or economic output at which the economy stabilizes, without causing inflation.
Monetary Policy
The process by which the central bank or monetary authority of a country controls the supply of money, often targeting interest rates to promote economic growth and stability.
Government Policies
Measures and actions taken by a government to influence or regulate the economy and societal welfare.
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