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    Is American economy at full employment? Why?

    © BrainMass Inc. brainmass.com March 4, 2021, 8:11 pm ad1c9bdddf

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    The response address the queries posted in 516 words with references.
    // Before discussing about any of the 'Aspects of Economics', the general cognition regarding that aspect is essential. So, firstly, we will discuss about the 'full employment', along with the American Economy.//

    In modern macro economics, we can define full employment as the lowest level of the employment which can be persistent, given the structure of the economy. Most of the people understand full employment, where the unemployment rate is zero. An unemployment rate of 3% is full employment according to the 20th century British economist William Beveridge.

    Unemployment level in America is at the lowest level. In America, there is almost full employment. American economy is a free economy. United States practices free market. It is an ideal type of market model. Free market is the highest form of ...

    Solution Summary

    The response address the queries posted in 516 words with references.