How did the 1980’s recession affect United States farmers?
Since the population was rising, the demand for American farm products was high and family farms prospered.
The recession did not impact farmers, only those living and working in urban areas.
The demand for farm products increased significantly and many farms expanded.
Demand for farm products decreased while interest rates for loans increased. Many farmers were unable to pay their loans, forcing them to leave or sell their farm. : My answer
Yes, you're right.
https://www.economist.com/news/united-states/21719813-farmers-are-making-comparisons-1980s-bust-how-bad-farm-slump
Your answer is spot on.
answers please
What was his answer?
his answer was
D. Demand for farm products decreased while interest rates for loans increased. Many farmers were unable to pay their loans, forcing them to leave or sell their farm
The correct answer is: Demand for farm products decreased while interest rates for loans increased. Many farmers were unable to pay their loans, forcing them to leave or sell their farm.
During the 1980s recession, the United States experienced a severe downturn in the economy. This downturn had a significant impact on various sectors, including agriculture. The recession led to a decrease in the demand for farm products due to a general decline in consumer spending. Additionally, high interest rates for loans made it difficult for farmers to finance their operations and make necessary investments.
As a result, many farmers faced financial hardships and were unable to generate enough income to repay their loans. This forced them to leave or sell their farms, contributing to a significant decline in the number of family-owned farms. The combination of decreased demand and increased financial burdens had a detrimental effect on United States farmers during the 1980s recession.