Question

What was President Hoover's first response to the worsening financial crisis during the Great Depression?

Answer 1

I would say C. Hope it helps.

Answer 2

The correct answer is C, as Hoover provided for a financial bailout to struggling companies.

The Great Depression caused the collapse of a large part of the American economy, with the consequent impoverishment of the population; however, President Hoover's general reaction was to try to avoid financial panic and consider the Great Depression as a passing crisis. He tried to combat the Great Depression by promoting voluntary work, developing large public works such as the Hoover Dam, promoting protectionist measures such as the Tariff Act of 1930, increasing the maximum of the income tax from 25% to 63% or increasing the tax on the corporate income.

His loss of prestige and popularity was evident in the following presidential elections of November 1932, to which Hoover was presented for re-election, although sensing that his chances were very small compared to his Democratic Party rival, Franklin Delano Roosevelt.