Which of the Following Steps Did Herbert Hoover Not Take

question 20

Multiple Choice

Which of the following steps did Herbert Hoover not take to revive the economy after the stock-market crash?

• A) He advised municipal and state governments to create jobs through public-works projects.
• B) He set up the Emergency Committee for Employment to coordinate the efforts of voluntary relief agencies.
• C) He persuaded Congress to pass the National Industrial Recovery Act, which embodied ideas of industrial self-regulation and business-government cooperation.
• D) He persuaded Congress to establish the Reconstruction Finance Corporation to make loans to banks and other lending institutions.
• E) He urged business leaders to maintain wages and employment.

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Definitions:

Buyer Pays

A pricing term indicating that the purchaser is responsible for the cost of goods, shipping, and any additional expenses associated with the purchase.

Tax Incidence

Describes how the burden of a tax is distributed between buyers and sellers, depending on the relative elasticities of supply and demand.

Levied On

Imposed or applied, typically in the context of taxes or duties on goods, services, or income.

Seller Bears

Refers to situations where the seller is responsible for costs or burdens, such as during the transaction of goods where the seller pays for shipping or returns.