Hoover's Early Efforts to End the Depression Included

question 21

Multiple Choice

Hoover's early efforts to end the Depression included:

• A) cutbacks in public works, to shore up the public treasury
• B) a stricter credit policy by the Federal Reserve, to stop the flow of "easy money" available for speculation
• C) an increase in aid to farmers, to allow them to produce more
• D) asking businessmen to maintain wages and avoid layoffs, in order to keep purchasing power strong
• E) extending federal loans to individuals

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Definitions:

Principal

The initial amount of money borrowed or invested, excluding any interest or dividend.

Interest

The fee charged for borrowing money, often expressed as a percentage of the principal amount.

Maturity Date

The specified date on which the final payment of a loan or other financial instrument is due to be paid.

Bondholders

Individuals or institutions that hold the debt securities issued by corporations or governmental entities, entitling them to receive interest payments and the return of principal.