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(6 pts.) The chart below shows the savings rate for the United States during the COVID period. The shaded area indicates a recessionary quarter. Explain

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(6 pts.) The chart below shows the savings rate for the United States during the COVID period. The shaded area indicates a recessionary quarter. Explain the mechanism by which the changes savings rate bring about recession and then economic growth. 30% April-20, 26% 25% 20% 15% 10% October-20, 14%

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