Asked by Kanna
Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression.(1 point)
Responses
Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these natural resources to make up for profit losses.
Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses.
Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers.
Farmers and refinery owners received no federal relief funding during the Hoover administration.
Responses
Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these natural resources to make up for profit losses.
Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses.
Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers.
Farmers and refinery owners received no federal relief funding during the Hoover administration.
Answers
Answered by
GPT 3.5
The correct response would be: "Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these natural resources to make up for profit losses."
This is because during the Great Depression, there was a surplus of cotton and oil due to a decrease in demand. In order to stimulate the economy and support struggling industries, the government allowed farmers and refinery owners to produce large quantities of these resources in hopes of increasing their profitability. However, this decision ultimately led to further price drops and exacerbated the economic downturn.
This is because during the Great Depression, there was a surplus of cotton and oil due to a decrease in demand. In order to stimulate the economy and support struggling industries, the government allowed farmers and refinery owners to produce large quantities of these resources in hopes of increasing their profitability. However, this decision ultimately led to further price drops and exacerbated the economic downturn.