THE VIRGINIA DYNASTY 1801 1825
WAR OF 1812 CAUSES EFFECTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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U.S. manufacturing would expand after the war
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the U.S. would become a completely agrarian economy
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the U.S. would declare bankruptcy
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None of the above
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Detailed explanation-1: -The basic story with spending on a war, or any other military spending, is that it provides a boost to demand in the economy. In this sense, it is like anything else that would provide a boost in demand, such as increased spending on health care, child care or housing.
Detailed explanation-2: -How did the War of 1812 lead to a boom in manufacturing in the United States? The war stopped the import or export of foreign goods so Americans were forced to buy American products, which in turn increased manufacturing.
Detailed explanation-3: -Deindustrialization is a prime source of change in the field of economic production. Its impact includes: (1) labor market dislocation (job/income loss), (2) increased exploitation (workload, precarity), (3) increased social inequality (income, race/ethnicity), and (4) disruption of community services.
Detailed explanation-4: -Overall, unemployment declined from 7.9 percent to 1.4 percent in this period, in part because workers were drawn in to new manufacturing jobs and because the military draft removed from many young men from the civilian labor force.