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How do you know when you are in conflict?
Full Employment
A situation in which all available labor resources are being used in the most economically efficient way, minimizing unemployment to only frictional or structural levels.
Serious Recession
A significant period of economic decline across the economy that lasts more than a few months, typically evident in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Constitutional Amendment
A formal change or addition to the constitution, requiring a specific procedure for proposal and ratification as outlined in the constitution itself.
Existing Recession
A period of temporary economic decline during which trade and industrial activity are reduced, already currently in place.
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