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) It established the right of government to regulate any and all businesses wherever it was deemed desirable to promote competition.
(d) It established the right of government to regulate any business that had become "clothed in the public interest."
(d)
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If the federal government tries to make fiscal policy sustainable by decreasing expenditure on transfer programs such as Social Security, Medicare, and Medicaid, ________ will bear the burden of adjusting fiscal policy, and this will result in a
lower standard of living for those who bear the burden. A) high-income households B) individuals in the labor force C) middle class taxpayers D) the elderly and poor
The legislation passed by Congress in 1890 to reduce the market power of large and powerful "trusts" was the
a. Morgan Act. b. Sherman Act. c. Clayton Act. d. 14th Amendment.
People learn to hold a specific quantity of money for the groceries, theater tickets, gasoline, clothes, film, and other items they habitually purchase. This behavior is representative of the:
A. precautionary demand. B. speculative demand. C. transactions demand. D. volatility demand.
Discretionary fiscal policy
A. is the use of the money supply to maintain stable prices. B. is the purchase and sale of Treasury securities to influence economic growth and inflation. C. is the use of regulation to influence economic growth and inflation. D. is the use of government spending and tax policies to influence economic growth and inflation.