THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
He believed that successful monopolies could benefit the American economy and public.
|
|
|
He believed that the best way to build competition was to keep business leaders apart.
|
|
|
He believed that bringing industry leaders together would improve economic efficiency.
|
|
|
He believed that a president’s role was to reduce associations between big businesses.
|
Detailed explanation-1: -Hoover was an advocate of laissez-faire economics. He believed an economy based on capitalism would self-correct. He felt that economic assistance would make people stop working. He believed business prosperity would trickle down to the average person.
Detailed explanation-2: -He believed in a limited role for government and worried that excessive federal intervention posed a threat to capitalism and individualism. He felt that assistance should be handled on a local, voluntary basis. Accordingly, Hoover vetoed several bills that would have provided direct relief to struggling Americans.
Detailed explanation-3: -Which accomplishment helped make Herbert Hoover popular at the beginning of his presidency? Hoover expanded tax cuts among all income classes.
Detailed explanation-4: -What did business leaders promise Hoover they would do to help the economy? They promised to keep factories open and stop cutting wages.