Regarding the Interstate Commerce Commission (ICC),
(a) historians agree that it was primarily "captured" by the industry that it was supposed to regulate.
(b) historians agree that it was primarily "captured" by passengers and shippers to the disadvantage of the railroads.
(c) historians generally agree that it was not "captured" by any group, but rather served the
public well.
(d) historians do not "agree" on any of the above.
(d)
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When the government steps in to help determine prices, it is called
a. price ceilings. b. price floors. c. equilibrium prices. d. price control.
If Americans develop a greater appreciation for Mexican-made goods, we should observe the following change(s) in the U.S. dollar-peso market:
A. the demand curve for dollars shifts right. B. a movement down the supply curve of dollars. C. the supply curve of dollars shifts left. D. the demand curve for pesos shifts right.
The wage rate that is adjusted for changes in ________ over time is the real wage rate.
A. tax rates B. the price level C. the average number of hours worked per week D. worker productivity
If labor markets are competitive, wages in those markets are determined by
A. neither supply nor demand. B. demand only. C. supply only. D. the interaction of supply and demand.