Question

Which law did Hoover's administration help pass to limit the quantity of goods that American farmers could sell to other countries in an attempt decrease surplus and stabilize the economy? A. Agricultural Marketing Act B. Hawley-Smoot Tariff C. Second New Deal D. General Agricultural Tariff and Trade Act

Answer 1

I believe the answer is the Agricultural Marketing Act

Answer 2

The correct answer is A. Agricultural Marketing Act.

The Agricultural Marketing Act was a law passed in 1929 by Hoover that was supposed to stop the rapid decrease in price of goods produced by farmers. In order to stop this steady decline, the federal government bought, sold, and stored agricultural surpluses. Along with this, the federal government also lent money to farming organizations. However, this act did not give direct financial assistance to farmers, as this went against Hoover's laissez faire beliefs.