Question

Which of the following best describes the United States when Herbert Hoover took office?

Answer 1

The correct answer is economically prosperous.

When Hoover was sworn into the presidency on March 4, 1929, the US economy was booming. The increased amount of credit made available by banks and other institutions allowed Americans to spend money on goods they would not have been able to pay for in the early part of the 1900's. However, 6 months after he took the presidency over, the US Stock Market Crashed and helped to spark the Great Depression.

Answer 2

(c). entering the Great Depression

Further Explanations:

Herbert Clark Hoover served as the 31st president of the United States of America born on 10th August 1874. He was a businessman and engineer in his early days. He also served in Commission for Relief in Belgium, U.S Food Administrator and 3rd Secretary of Commerce. He held his office during the outbreak of depression.

Hoover during his presidency proposed the term “volunteerism” according to which all Americans were encouraged for public and private cooperation so as to eradicate the idea of Individualism and self-sufficiency. On taking the oath to the office Hoover stated in his speech that he will soon banish poverty from the nation. His optimism created havoc in the share market and even the bullish share market reached its crest. This rise of price of share even beyond its actual value was the result of speculation that was being created during his presidency that created the path for dangerous stock market crash of October 1929. Hoover was being warned about this crisis by some bankers and regulators but he ignored it and involved himself in the implementation of the Federal Reserve System.

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Answer Details:

Grade: High school

Subject: US History

Chapter: Great Depression

Keywords:Herbert Clark Hoover, United States of America, Commission for Relief, Belgium, U.S Food Administrator,3rd Secretary of Commerce, volunteerism, speculation