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The sentence that describes a typical economy found in Latin America during the 1920s and 1930s is "Economies depended on the production of one or two goods."
During those years, while the United States lived an economic boom known as the "Roaring 1920s" and later, the beginning of the Great Depression since October 1929, after the US stock market crash, most of the Latin American countries based their weak economies on the exportation of natural resources and raw materials that were oil, gas, vegetables, fruits, or minerals.
Many companies from the United States and Europe had to invest in opening industrial plants in Latin American in order to exploit these raw materials and export them.
"Economies based on the manufacture of one or two commodities," says one statement that defines a typical Latin American economy in the 1920s and 1930s.
During all those ages, while the USA experienced an economic expansion known as the "Rumbling 1920's" and afterward, the start of the Great Recession in Oct. 1929, following the US market crash, often these Latin American countries relied on the exporting goods of raw materials in the production such as oil, gas, fruits and veggies, and minerals to support their weak economies.
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