Choose the given statement that is true/false:

The agricultural regions and communities were the worst affected by the Great Depression of 1929.

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Detailed Solution

The above statement is true.
The agricultural regions and communities were the worst affected by the Great Depression of 1929.
Around 1929, the Great Depression began and lasted until the mid-1930s. A variety of circumstances caused the depression. Initially, there was still a problem with agricultural overproduction. The issue was made worse by declining farm prices. When food prices dropped, and agricultural profits decreased, farmers tried to increase production and bring more food to market to maintain their overall income. The excess on the market goal results in lowering the price. The farm products went bad since there weren't enough customers. Second, in the middle of the 1920s, numerous nations used loans from the United States to finance their investments. In the first half of 1928, the US extended loans abroad, totalling more than $1 billion. A year later, it was only 25% of that sum. Countries that depended significantly on US credit now faced a serious issue.

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