The Next 3 Multiple Choice Questions Directly Relate To My Essay,"The Smoot- Hawley Tariff and the Great Depression." Which of the following is true? O A Trade policy has no efect monetary policy. O B.Macro-aggregation modeling of the Great Depression understates the effect of the tarif on GNP. O C. The classical economists favored the tariff. O D. Since the foreign trade sector represented 79% of GNP,it could not explain more than a smal fraction of the change of real GNP. O E. Microeconomic partitioning models overstate the effect of the tarif on GNP. QUESTION 23 Which of the folowing was not an effect of the tart? O A Post-war debt repayments harmed the solvency of US banks because America had trade surpluses, O B. Industries in export markets expanded. O C. The values of stocks on the New York Stock Exchange decreased O D. Foreign governments responded by increasing their tails on American exports. O E. Banking crises "failures'occured in American, European, and South American markets