Why do historians argue that there was a mixture of enterprise, partly private and partly governmental, in building our transportation system? (a) Private individuals took the initiative and were able to extract special privileges and financial assistance from government for the purpose of enhancing their profits. (b) Political leaders, who wanted transportation improvement for reasons […]
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)
“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)
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 […]
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)
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)
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)
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)
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)
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) […]
