THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increasing global trade
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lowering prices on European goods
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passing high protective tariffs
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importing more American goods
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Detailed explanation-1: -European nations greatly disfavored the Hawley Smoot Tariff. The Hawley Smoot Tariff prompted these countries to impose their own tariffs on foreign goods, especially those from the United States. These retaliation tariffs crippled international trade and worsened conditions during the Great Depression.
Detailed explanation-2: -How did many European countries respond to the Smoot-Hawley Tariff? They increased their own tariff rates.
Detailed explanation-3: -It raised the price of imports to the point that they became unaffordable for all but the wealthy, and it dramatically decreased the amount of exported goods, thus contributing to bank failures, particularly in agricultural regions.
Detailed explanation-4: -How did protective tariffs such as Hawley-Smoot affect the cycle of depression shown in the diagram? Tariffs reinforced the cycle. Which New Deal agency related most closely to what President Roosevelt was speaking about in this quotation? aided the growth of business.