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. This tariff raised duties on a wide range of imports and led to retaliatory tariffs from other countries, further contracting international trade and worsening the global economic situation.
Which action most contributed to an international economic crisis during the early years of the Great Depression?
(1 point)
Responses
Congress passed the Smoot-Hawley tariff.
Congress passed the Smoot-Hawley tariff.
The United States stock market lost a great deal of its value.
The United States stock market lost a great deal of its value.
The Federal Reserve sharply dropped interest rates.
The Federal Reserve sharply dropped interest rates.
European governments ended the use of the gold standard.
European governments ended the use of the gold standard.
1 answer