In the 19th century, the federal government:
a. allocated funds to help build steamboats.
b. passed laws requiring steamboat boiler inspections.
c. required steamboat captains to undergo training in order to receive an operating license.
d. regulated the fees that steamboats could charge for carrying freight.
e. All of the above.
b. passed laws requiring steamboat boiler inspections.
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Research in history and economic history shows that before 1880, significant federal participation in the markets of the American economy occurred
Indicate whether the statement is true or false
Which of the following most accurately and completely describes the responsibilities the Constitution gave to the federal government?
a. The authority to provide for copyrights and patents b. The right to tax c. The authority to regulate interstate commerce d. All of the above
In a monopoly
a. the industry has high barriers to entry b. the industry has high barriers to exit c. the industry has high barriers to entry and exit d. the industry has no barriers to entry or exit
Under a free agent structure, the wage paid to a professional athlete is likely to be close to his
A. deadweight loss. B. marginal revenue product. C. reservation wage. D. average compensation.