Munn v Illinois (1877) was particularly important with regard to government regulation because it
(a) upheld the traditional right of businesses to act freely without interference by government.
(b) established the right of government to regulate any business that was deemed "clothed" in
the public interest.
(c) established the right of government to regulate any and all businesses wherever such regulation was deemed desirable to promote competition.
(d) established the right of government at any level to regulate any business activity if such regulation was deemed desirable for any reason.
(b)
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Gross domestic product is a measure of the total value of all
A) sales in an economy over a period of time. B) consumer income in an economy over a period of time. C) capital accumulation in an economy over a period of time. D) final goods and services produced in an economy over a period of time.
Agriculture is a sector of the economy where increased productivity has been accompanied by a significant decrease in employment.
Answer the following statement true (T) or false (F)
Season tickets to the Miami Heat games are sold out at $30 a game and some people who wanted to get tickets couldn't buy them. As the season progresses, it is clear that the Heat will make it to the playoffs. What is the effect on resale price of tickets to Miami Heat games, assuming resale is legal?
A. Resale price will remain at $30 a game. B. Resale price will rise and supply will rise. C. Resale price will decline as supply rises. D. Resale price will rise and quantity supplied will rise.
Refer to the above figure. Which diagram shows the effect on the market of cellphones when the demand for cellphones has increased?
A. graph C B. graph D C. neither graph D. both graphs