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THE AMERICAN BUSINESS CYCLE 1945 TO 1967
LEGACIES OF DEPRESSION AND WAR
RECONSTRUCTION 1945 TO 1947
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actual adjusted annual appears assets automobile average billion capacity capital cars caused cent changes constant construction consumer consumption continued controls cost cycle decline defence deflated demand depends desired determined difference durable early Economic effect elasticity employment equation equilibrium equipment estimates excess expected expenditures exports factor fall farm Federal fell final fixed investment fluctuations force function given growth head household housing important income increase industries influence interest inventory investment July labour lagged less manufacturers marginal materials measures months mortgage nondurable normal Note offset orders output peak period postwar production profits propensity purchases quarter quarterly ratio reached recession reduced relatively rise rose savings second half sector short run Source stability started steel strike suggests supply Table term theory tion traders United values