How Effective Was the 1807 Embargo Act

question 14

Multiple Choice

How effective was the 1807 Embargo Act?

• A) It forced the French to abandon the Continental System.
• B) It severely hurt the American economy and had little influence on foreign countries.
• C) It damaged Franco-American relations and led to the War of 1812.
• D) It made the British abandon the Rule of 1756.
• E) None of these choices

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Definitions:

Income-Consumption Curve

Curve tracing the utility-maximizing combinations of two goods as a consumer’s income changes.

Utility-Maximizing

A principle or strategy of consumers making choices to achieve the highest overall level of satisfaction or utility from their available resources.

Inferior Good

An inferior good is a type of good for which demand decreases as the income of the individual increases, in contrast to a normal good.

Rental Housing

Properties available for rent to provide accommodation, usually on a monthly or yearly lease agreement.