Asked by Ronald Antenor on Jul 20, 2024
Verified
The Reconstruction Finance Corporation
A) raised taxes on imports.
B) reduced Americans' purchasing power.
C) offered relief efforts to the unemployed.
D) made loans to banks, railroads, and other businesses.
E) offered cheat credits to poor families.
Reconstruction Finance Corporation
A government corporation in the United States that provided financial support to banks, railroads, and other businesses to stimulate the economy during the Great Depression.
Purchasing Power
The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
- Understand the measures taken by the Hoover administration to address the economic crisis and their impact on recovery.
Verified Answer
RV
Rachel VaughnJul 22, 2024
Final Answer :
D
Explanation :
The Reconstruction Finance Corporation (RFC) was established in 1932 to provide financial support to banks, railroads, and other businesses in an effort to stabilize the economy during the Great Depression. It did not directly raise taxes, reduce purchasing power, offer relief to the unemployed, or provide cheap credits to poor families.
Learning Objectives
- Understand the measures taken by the Hoover administration to address the economic crisis and their impact on recovery.
Related questions
As a Response to the Great Depression and in Contrast ...
How Did President Herbert Hoover Assess the State of the ...
What Order Did Herbert Hoover Give to General Douglas MacArthur ...
The Government Should Act to Create Jobs During an Economic ...
How Did the National Industrial Recovery Act of 1933 Seek ...