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:

Comparative Advantage

An economic principle that describes the ability of a country or individual to produce a particular good or service at a lower opportunity cost than others.

Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service with the same amount of resources as another, making it more efficient.

Piano Tuning

The process of adjusting the tension of the strings in a piano to achieve the desired musical pitch or harmony.

Shoe Polishing

The process of cleaning, conditioning, and applying polish to shoes to enhance their appearance and longevity.