Which best describes the us when herbert hoover took office
Asked by maham237 @ in History viewed by 262 People
just coming out of World War I
economically prosperous
entering the Great Depression
economically depressed
Answered by maham237 @
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.
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