What belief led Hoover to ask leading industrialists to maintain current wages in the weeks following Black Tuesday?

A. He believed the surplus of goods could be sold to fix the economy.

B. He believed the crash was not part of a larger downturn.

C. He believed the industrialists would close their factories.

D. He believed the continuation of trade would save the banks.

Question

History

Andre Hobbs

24 August, 19:01

What belief led Hoover to ask leading industrialists to maintain current wages in the weeks following Black Tuesday?

A. He believed the surplus of goods could be sold to fix the economy.

B. He believed the crash was not part of a larger downturn.

C. He believed the industrialists would close their factories.

D. He believed the continuation of trade would save the banks.

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Answers (2)

Know the Answer?

Olsen · Answer 1

A. He believed the surplus of goods could be sold to fix the economy.

Explanation:

"Black Tuesday" is the name given to October 29, 1929. This was a day that was marked by a terrible drop in the stock market. The infamous day is now remembered for marking the end of the decadent Roaring Twenties (the decade of the 1920s) and the beginning of the Great Depression. This period of economic struggle would last until the beginning of World War II. In order to deal with the aftermath of the event, President Hoover had asked industrialists to maintain current wages in the weeks following the event, as he believed this would give purchasing power to people and enable them to buy the surplus of goods, fixing the economy.

Audrey Escobar · Answer 2

A. he believed the surplus of goods could be sold to fix the economy