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During the Great Depression, the Smoot-Hawley legislation caused

A

the U.S. dollar to appreciate in value due to the stimulus it provided to import/export business.

B

the U.S. dollar to appreciate in value because it directed the government to reduce trade barriers with European countries.

C

the U.S. dollar to appreciate because it reduced the supply of U.S. currency on the international market by increasing the price of imports coming to America.

D

the U.S. dollar to appreciate because it created artificial demand for U.S. money in foreign lands due to the sharp increase of import taxes.

E

the U.S. dollar to appreciate because it reduced the government's reliance on foreign oil for the armed forces around the world.

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