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The Recession of 1937 Seemed to Be the Result of Reductions

question 59

True/False

The recession of 1937 seemed to be the result of reductions in federal spending by the Roosevelt administration.


Definitions:

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services.

External Cost

Uncompensated costs that individuals or firms impose on others outside of market transactions, often associated with pollution.

Pollution Tax

A financial charge imposed on the emission of pollutants, intended to motivate reductions in harmful environmental discharges.

Unit of Production

A single complete item or a specified amount of a commodity produced.

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