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Unformatted text preview: Add underemployment and it jumped to 33%. 1931 survey of 10 major U.S. cities estimated the unemployment rate of African-Americans at 50%. This was due to heavy discrimination and heavy employment in the service sector. 42. Use the S&P Index and the figure on p. 458 to compare the stock market of the 1920s and 1930s with the 1996-2003 stock market. Is a recession the inevitable follow-up to a stock market crash? In 1929, the index was $26.02. In 1932, it was $6.93. A recession is not an inevitable follow-up to a stock market crash. The government can take steps to keep the economy from receding. A recession may be likely to occur after a stock market crash, but it is not inevitable....
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This note was uploaded on 03/19/2008 for the course ECON 2200 taught by Professor Moore during the Fall '07 term at University of Georgia Athens.
- Fall '07