Examlex
The largest army in Europe in the seventeenth century was in ______________.
Unemployment
The situation of being jobless and actively looking for work but unable to find a job.
Classical Macroeconomic Model
An economic theory that emphasizes the importance of classical concepts like full employment, supply and demand, and the self-regulating nature of markets.
Full Employment
A state of the labor market where virtually all individuals who are willing and able to work at prevailing wage rates are employed.
Real GDP
The measure of a country's economic output that has been adjusted for inflation, reflecting the true value of goods and services.
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