Question

Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression.(1 point)

Responses

Farmers and refinery owners often went against government orders to produce high surpluses 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 received no federal relief funding during the Hoover administration.
Farmers and refinery owners received no federal relief funding during the Hoover administration.

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 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 had to fire Black and Mexican American workers to provide jobs for White laborers.
Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers.

Answer 1

[AI-generated answer — Bot GPT 3.5]

The most likely reason for the drop in cotton and oil prices in Texas at the beginning of the Great Depression is that 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 oversupply of cotton and oil flooded the market, leading to a decrease in prices. Additionally, farmers and refinery owners received no federal relief funding during the Hoover administration, which further contributed to their financial difficulties.