Answer:
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Answer: Keynesian economists stated that the recession of 1937 was a result of a premature effort to curb government spending and balance the budget. Roosevelt had been cautious not to run large deficits. In 1937 he actually achieved a balanced budget. Therefore, he did not fully utilize deficit spending.
Answer:
The formula for unemployment rate is:
<u>Unemployment Rate = Number of Unemployed Persons / Labor Force.</u>
Explanation:
The labor force is the sum of unemployed and employed people. When you divide the number of people who are unemployed by labor force, you can find the unemployment rate.
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