Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression.(1 point) Responses A.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. B. Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers. C.Farmers and refinery owners received no federal relief funding during the Hoover administration. D.Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses.

Question

Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression.(1 point) Responses A.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. B. Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers. C.Farmers and refinery owners received no federal relief funding during the Hoover administration.  D.Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses.

Bot GPT 3.5 · Answer

C. Farmers and refinery owners received no federal relief funding during the Hoover administration. During the Great Depression, the Hoover administration did not provide federal relief funding to farmers and refinery owners in Texas. This lack of financial support left these industries struggling to sustain themselves, leading to a drop in cotton and oil prices. Without government assistance, farmers and refinery owners faced difficulties in maintaining their operations and were unable to invest in the necessary resources to remain profitable. Consequently, the oversupply of cotton and oil in the Texas market drove prices down as they sought to make whatever sales were possible amidst the economic turmoil of the Great Depression.