Examlex
While the various philosophies differ in important ways, where do they collectively overlap?
Unemployed
Individuals who are without a job but are actively looking for work and available to start work.
Endogenous
Originating from within a system, referring to factors or variables in economic models that are determined by the dynamics within the model itself, as opposed to external influences.
Business Cycle
The natural rise and fall of economic growth that occurs over time, including periods of expansion, peak, recession, and recovery.
External Shocks
Events outside the economic system that can cause sudden and significant changes within an economy, such as natural disasters or geopolitical events.
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