Asked by
Biana Desai
on Dec 11, 2024
Verified
Which of the following did not contribute to the severity of the Great Depression?
A) A sharp reduction in the money supply during the early 1930s.
B) A large tax increase (to balance the budget) in the early 1930s.
C) Substantial increases in the tariff rates on imported goods.
D) A reduction in government expenditures and a substantial cut in personal income tax rates during 1932 and again in 1936.
Money Supply
The total amount of money available in an economy at a specific time, including cash and deposits.
Tax Increase
An escalation in the statutory rate imposed by the government on income, goods, services, or transactions.
Tariff Rates
Taxes imposed on imported goods and services, which can affect the price and availability of those goods and services.
- Understand the key factors that exacerbated the Great Depression.
Verified Answer
JS
Learning Objectives
- Understand the key factors that exacerbated the Great Depression.