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Why Did More Than 1,000 Economists Warn Against the Smoot-Hawley

Question 21

Multiple Choice

Why did more than 1,000 economists warn against the Smoot-Hawley Tariff of 1930, which Hoover went on to sign anyway?


A) It would raise prices on most products and raw materials by impeding imports.
B) It was too low of a tariff and thereby would not have an effect on the economy.
C) It would allow international trade to flourish but destroy the American economy.
D) It would repair the German economy, leading to animosity from other European nations.
E) It would drastically raise the GDP and make it easier for European nations to afford American goods.

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