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
Historians generally agree that the railroads (a) were absolutely essential for industrial growth in the 19th century. (b) were an indispensable “leading sector.” (c) were our first “giant” enterprises. (d) provided a “social saving” of 90% or more. ANSWER (c)
Date: September 10th, 2020
The long-term impact of Munn v Illinois (1877) on regulatory efforts was (a) to hold back federal efforts to regulate business. (b) to prevent states from regulating interstate trade. (c) to provide a temporary justification for regulating business. (d) to establish government as able to regulate all businesses permanently. ANSWER (d)
Date: September 10th, 2020
The efficiency of steamboats was commonly measured by (a) the carrying capacity of the steamboat fleet in terms of tonnage. (b) per unit labor costs per vessel. (c) the tonnage per vessel transported upstream. (d) the actual tonnage transported up and downstream each day. ANSWER (a)
Date: September 10th, 2020
Which of the following contributed to the increase in steamboat productivity? (a) Improvements in ship design (b) Better docking stations (c) Increased competition by railroads (d) All of the above ANSWER (d)
Date: September 10th, 2020
Funding for canals came from which of the following sources? (a) Private investments and tolls (b) Taxes (c) Borrowing on government credit (d) All of the above ANSWER (d)
Date: September 10th, 2020
Why was the Munn v Illinois (1877) court case particularly important with regard to government regulation? (a) It upheld the traditional right of businesses to act freely without interference by government. (b) It established the right of government at any level to regulate any business activity if it was deemed desirable for any reason. (c) […]
Date: September 10th, 2020
Business cycles can be described best as (a) being pervasive during the antebellum period but their effects were isolated to the private sector. (b) being pervasive during the antebellum period but their effects were isolated to the public sector. (c) being pervasive during the antebellum period and their effects were felt both in the private […]
Date: September 10th, 2020
Prior to the 1880s, federal government control over the daily operations of private economic activity (a) was important but not as important as during the 1880s and following decades. (b) was virtually nonexistent; state and local governments handled any regulation or business management. (c) was important, but in the 1880s and following decades, it became […]
Date: September 10th, 2020
“External economies” derive from all of the following except (a) the joint use of transportation facilities. (b) labor force concentrations in urban areas. (c) social overhead facilities such as police and fire protection. (d) economies of management associated with large firms. ANSWER (d)
Date: September 10th, 2020
