How did Hoover plan to jump-start big business?

A. by asking the federal government for loans to big business

B. by asking big corporations to give their workers pay raises

C. by asking labor unions to call off any strikes they had planned

D. by asking big corporations to hold wages steady at 1929 rates

Question

Ansley Orozco

History

8 November, 22:09

How did Hoover plan to jump-start big business?

A. by asking the federal government for loans to big business

B. by asking big corporations to give their workers pay raises

C. by asking labor unions to call off any strikes they had planned

D. by asking big corporations to hold wages steady at 1929 rates

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Answers (1)

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Beard · Answer 1

The correct answer is D. by asking big corporations to hold wages steady at 1929 rates.

Hoover believed that it was needed to restore confidence of the business community because if businessmen reinvested their capital in the American economy, the nation would be able to recover. The 1929 crisis was born from a bubble, which would deflate the value of the dollar, but President Hoover attempted to keep the economy in place by maintaining rates.