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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Other nations raised tariffs that cut U.S. exports.
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The United States experienced a rapid rise in inflation.
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Other nations boycotted U.S. goods because of high prices.
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The United States experienced a moderate rise in employment.
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Detailed explanation-1: -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-2: -Other countries responded to the United States’ tariffs by putting up their restrictions on international trade, which just made it harder for the United States to pull itself out of its depression. Imports became largely unaffordable and people who had lost their jobs could only afford to buy domestic products.
Detailed explanation-3: -It did not work, and the United States sank deeper into the Great Depression.” This amusing scene managed to omit the U.S. Senate, but it was on June 13, 1930, that the Senate passed the Smoot-Hawley Tariff, among the most catastrophic acts in congressional history.
Detailed explanation-4: -The contraction in world trade during the first phase of the Great Depression stands out as the strongest adverse shock to international trade in modem history. From 1929 to 1932 world import and export volume in the industrialized nations decreased about 30%.