The statement that Despite the widespread prosperity of the 1920s, prices of/cost of farm goods remained low and many farmers went into debt, is True.
Why did farmers suffer in the 1920s?
One of the primary reasons for low farm prices was overproduction. Advances in farming technology and techniques had led to increased agricultural output, which in turn led to a surplus of farm goods. With more supply than demand, prices fell.
During the 1920s, prices for many agricultural commodities, such as wheat, cotton, and corn, experienced significant declines. This was partly due to weak international demand and competition from other countries.
Options are:
True
False