THE VIRGINIA DYNASTY 1801 1825
WAR OF 1812
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The economy was hurt by the stopping of trade.
|
|
|
It helped the economy and made the people wealthier
|
|
|
It hurt the British and the French
|
|
|
It made shipping goods to other countries easier
|
Detailed explanation-1: -Jefferson’s Embargo Act outlawed trade between America and any foreign port, effectively closing in the American economy. The Embargo Act was one of the major factors leading up to the War of 1812 as it ended up increasing the hostilities that already existed between America and Britain.
Detailed explanation-2: -The embargo was an unpopular and costly failure. It hurt the American economy far more than the British or French, and resulted in widespread smuggling. Exports fell from $108 million in 1807 to just $22 million in 1808. Farm prices fell sharply.
Detailed explanation-3: -Economically, the embargo devastated American shipping exports and cost the American economy about 8 percent in decreased gross national product in 1807. With the embargo in place, American exports declined by 75%, and imports declined by 50%-the act did not completely eliminate trade and domestic partners.