Asked by Corynna Stookey on Jul 20, 2024
Verified
What was the advice of president Herbert Hoover's Secretary of the Treasury, Andrew Mellon, for dealing with the economic crisis?
A) Liquidate labor, liquidate stocks, liquidate the farmers
B) invest in education, invest in infrastructure, invest in energy
C) expand free trade, promote free trade, recover with free trade
D) raise wages, raise prices, raise revenues
Herbert Hoover
The 31st President of the United States (1929–1933), whose presidency was marked by the onset of the Great Depression.
Andrew Mellon
An American banker, industrialist, philanthropist, and Secretary of the Treasury known for his influence during the 1920s.
Economic Crisis
A period of significant financial downturn for an economy, marked by a decline in GDP, high unemployment, and failing businesses.
- Evaluate the measures and policies suggested by different politicians and economists to combat the Great Depression.
Verified Answer
Learning Objectives
- Evaluate the measures and policies suggested by different politicians and economists to combat the Great Depression.
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