In which of the following cases did the U.S. Supreme Court decide that a corporation was an “individual” but not a constitutional citizen? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819) ANSWER (d)
Date: September 10th, 2020
According to Fogel and Engerman (1974), Northern farmers extensively utilized hired labor. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The corporation, as a form of business organization, fueled the positive trend toward federal regulation of business activities for all of the following reasons except (a) Corporations were rapidly becoming more numerous than sole proprietorships and partnerships. (b) Corporations made possible or encouraged growth in the number of giant enterprises. (c) Corporations were adept at […]
Date: September 10th, 2020
The evidence shows that the domestic and world markets for American cotton contributed to the spread of slavery into new lands. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In 1860 government revenues exceeded the earnings of cotton exports by fourfold. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Scherer (1970) provides which of the following argument(s) to explain the appearance of antitrust laws? (a) Many farmers believed that the growth of big business came at the expense of growth in agriculture. (b) Many ordinary individuals with moderate or low incomes were envious of the fame and wealth accumulated by the relatively few industrial […]
Date: September 10th, 2020
Since colonial times, the U.S. government controlled businesses at some level by: (a) letting market actions and interactions between private consumers and producers drive decisions (b) regulating, licensing and closing them. (c) protecting private property rights. (d) providing national defense. ANSWER (b)
Date: September 10th, 2020
What was the first federal government agency established to regulate business? (a) The Federal Trade Commission (b) The Securities and Exchange Commission (c) The Federal Power Commission (d) The Interstate Commerce Commission ANSWER (d)
Date: September 10th, 2020
“Internal economies” derive from all of the following except (a) Division of labor (b) Production of standardized products (c) The use of mass production techniques (d) There is no “except”; all of the above apply ANSWER (d)
Date: September 10th, 2020
The major problem with the Sherman Antitrust Act of 1890 was that (a) it was struck down by the Supreme Court. (b) the government lacked the tools to enforce it. (c) its language was too vague to be applied the ways desired by Congress. (d) businesses found ways to use the Act clearly in their […]
Date: September 10th, 2020
