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What did the U.S.business cycles in the early 1890s and early 1930s have in common?
Officially Unemployed
Officially unemployed refers to individuals who are without a job, actively seeking work, and currently available to take up employment.
Fully Employed Economy
A situation where all available labor resources are being used in the most economically efficient way, with minimal unemployment.
Cyclical Unemployment
Unemployment that results from business cycle fluctuations and the imbalances in supply and demand that arise in the economy over time.
Discouraged Workers
Individuals who are not actively looking for work because they believe no jobs are available for them or there are no jobs for which they would qualify.
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