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a) The Great Depression of 1929 devastated the U.S. economy. A third of all banks failed. 1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted 67%, international trade collapsed by 65%, and deflation soared above 10%.
b) THE EMPLOYMENT SITUATION — NOVEMBER 2020
Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today.
c) The seemingly abundance of net sown area of 141.2 million hectares and total cropped area of 189.7 million hectares (1999-2000) pales into insignificance when we see that it is divided into economically unviable small and scattered holdings.
d) The result is that agriculture globally exerts increasing pressure on the land and water resources of the earth, which often results in land degradation (such as soil erosion and salinization), and eutrophication. Agriculture is also associated with greenhouse gas emissions (Kirchmann and Thorvaldsson 2000).