Final answer:
Farmers were economically hurt by deflation, as it exacerbated their debt burdens coupled with high tariffs and shipping rates. Falling agricultural prices due to overproduction, along with an inelastic money supply and high tariffs, reinforced a difficult situation for farmers.
Step-by-step explanation:
Farmers were hurt economically by high tariffs, high shipping rates, and deflation. Deflation is the decrease in the general price level of goods and services, which increases the real value of money. It makes debts more expensive to repay, which was harmful to farmers who often relied on loans for their operations. The overproduction of crops led to reduced prices, as increased supply was not met with proportional demand. This, coupled with the high costs of purchased goods due to protective tariffs, made survival difficult for farmers. Additionally, the adoption of the gold standard limited the money supply, which was detrimental to farmers who benefited from inflationary conditions to alleviate their debt burdens.
The option that correctly identifies one of the economic challenges farmers faced, not mentioned directly in the provided information but inferred from the consequences of the conditions, is D. Deflation. This is the process that occurred when crop prices fell due to overproduction and tariffs, reducing farmers' income and their ability to repay debts. Hence, while 'increased regulation' (option C) contributed to the farmers' challenges, deflation is the more precise answer to the question of what hurt farmers economically beside high tariffs and shipping rates.