Final answer:
While the question didn't provide a direct percentage for the fall in farm prices specifically in 1921, by the end of the 1920s corn prices fell from 70 cents to 10 cents per bushel, showing a decline of about 85%. Farm prices fell substantially in 1921 as part of a broader economic struggle for farmers in the 1920s, including overproduction and lack of federal price support.
Step-by-step explanation:
Farm prices fell dramatically after World War I, particularly severe in the case of crops like corn, wheat, and pork. By the early 1920s, prices had plummeted, demonstrating one aspect of the broader economic struggles of the decade. Starting at 70 cents per bushel for corn at the beginning of the 1920s, prices had fallen drastically to only 10 cents per bushel by the end of the decade. This represents a decline of about 85%, which is more severe than any of the options provided (A) 10% (B) 25% (C) 50% (D) 75%. The correct direct answer to the specific question of how much farm prices fell in 1921 isn't clearly stated, but given the context of the decade's decline, it is substantial.
The economic situation was dire, with many farmers defaulting on loans due to the plummeting commodity prices and the lack of government support for agricultural price levels, as federal price supports were vetoed by President Coolidge. The situation for farmers deteriorated throughout the 1920s with an increasing number facing foreclosure, and it helped trigger a migration from rural areas to urban centers as people sought employment. This trend laid the groundwork for the agricultural difficulties that would continue into the 1930s, including the Great Depression which saw additional drops in commodity prices and increasingly hard times for the rural population.