Answer:
Yes, that statement is generally true.
Step-by-step explanation:
By the end of the 1920s, the US economy had experienced a period of rapid growth and prosperity, but there were signs that this growth was not sustainable. Consumer spending began to slow down, and there were also indications that businesses were overproducing goods, which would lead to a surplus of inventory and declining prices. These factors contributed to the beginning of the Great Depression, which lasted for much of the 1930s and was characterized by high unemployment, low economic activity, and widespread poverty.