Question

Which action most contributed to an international economic crisis during the early years of the Great Depression?
(1 point)
• Congress passed the Smoot-Hawley tariff.
• The United States stock market lost a great deal of its value.
• The Federal Reserve sharply dropped interest rates.
• European governments ended the use of the gold standard.

Answer 1

The action that most contributed to an international economic crisis during the early years of the Great Depression was:

• Congress passed the Smoot-Hawley tariff.

The Smoot-Hawley Tariff, enacted in 1930, raised duties on a wide range of imports, leading to retaliatory tariffs by other countries and a significant decline in international trade, exacerbating the economic crisis globally.