During the 1920s and 1990s,the U

question 46

Essay

During the 1920s and 1990s,the U.S.economy experienced remarkable growth in the overall economy and several key sectors.Identify what these periods have in common and provide two reasons why the expansive growth of the 1990s was not trailed by a severe depression like the ?Great Depression following the 1920s.

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Definitions:

Rescission

The act of cancelling a contract and returning all involved parties to the positions they were in before the contract was made.

Innocent

Innocent refers to not being guilty of a crime or offense, or lacking knowledge of wrongdoing.

Void

Void refers to a legal declaration that a contract or transaction is null, having no effect or force in law, typically due to failing to meet certain legal requirements.

Mistake

An error or misunderstanding in the terms or conditions of a contract that can lead to its revocation or modification if all parties agree or if a court intervenes.