Which of the following contributed to the severity of the Great Depression?
A) The substantial budget surpluses run during the Hoover administration.
B) A sharp increase in tariff rates in 1930.
C) The large reduction in tax rates under the Hoover administration.
D) A highly expansionary monetary policy followed by the Fed in the late 1920s and early 1930s.

Question

Quizplus · Accepted Answer

The Smoot-Hawley Tariff Act of 1930 significantly raised tariff rates, leading to a decrease in international trade and worsening the economic situation during the Great Depression.

Which of the Following Contributed to the Severity of the Great