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GNP fell from $103.1 billion in 1929 to $75.8 billion in 1931 and bottomed out at $55.6 billion in 1933. [25] Imports from Europe decreased from a 1929 high of $1.3 billion to just $390 million during 1932, and US exports to Europe decreased from $2.3 billion in 1929 to $784 million in 1932.
Roughly 25% of students qualify for free or reduced price lunch. [9] Hoover has a graduation rate of 94%. [10] Approximately 94% of its students meet or exceed proficiency standards in reading, and 96% meet or exceed standards in mathematics. The average ACT score for Hoover students is 26 and the average SAT composite is 1860. [11]
The Revenue Act of 1932 (June 6, 1932, ch. 209, 47 Stat. 169) raised United States tax rates across the board, with the rate on top incomes rising from 25 percent to 63 percent. The estate tax was doubled and corporate taxes were raised by almost 15 percent.