Question

Which of the following best describes the U.S. economy during Calvin Coolidge's administration?

A. There was an economic depression in which the country faced a high rate of unemployment.
B. There was a great deal of prosperity as businesses grew, but some people still struggled financially.
C. The economy experienced rapid inflation and the currency was devalued.
D. The economy was quite stable as there was very little economic growth or decline.

Answer 1

During Calvin Coolidge's presidency, the U.S. economy saw considerable prosperity with businesses thriving under a laissez-faire approach, although not all segments of society benefited equally.

Step-by-step explanation:

During Calvin Coolidge's presidency, the United States economy was marked by a period of significant prosperity. Coolidge held a pro-business stance, famously declaring that “the chief business of the American people is business.” This era was characterized by a laissez-faire approach to economic policy, with minimal government intervention in business affairs.

Businesses experienced growth, and there was a general atmosphere of economic well-being, although disparities in wealth and ongoing financial struggles for some segments of the population did exist. Therefore, the option that best describes the U.S. economy during Calvin Coolidge's administration is option B: There was a great deal of prosperity as businesses grew, but some people still struggled financially.