Which Statement Best Represents the Economic Status of Farm Families

question 47

Multiple Choice

Which statement best represents the economic status of farm families during the 1930s?

• A) Because farm families were property owners, they suffered less than other segments of society during the depression.
• B) Many farm families gave up because of debt and the drought.
• C) In rural America, bankruptcies, foreclosures, and the abandonment of farms were rare because communities stuck together.
• D) Three-fourths of the farms folded during the depression.
• E) Because of the swift implementation of New Deal reforms, farm families prospered from 1933 onward.

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Definitions:

Savings Options

Various financial vehicles available for setting aside money, such as savings accounts, certificates of deposit, and money market funds, with the aim of earning a return.

Compounded Weekly

Refers to interest earned or paid that is calculated on a weekly basis, with each week's interest added to the principal amount.

Emergency Fund

A reserve of money set aside to cover unexpected expenses or financial emergencies.

Lump Sum

A single payment made at a particular time, as opposed to a series of smaller payments or installments.