Which of the follow best characterizes Herbert Hoover’s approach to the Great Depression?
A. President Hoover stuck steadfast to the old principles of laissez-faire.
B. President Hoover focused single-mindedly on attracting foreign investments.
C. Confident that the Depression was based on market psychology, he ignored the crisis.
D. Although he reluctantly took new initiatives in 1932, he opposed any type of federal charity.
E. He urged businesses to lower prices and wages in order to aid consumers.