In 1886, what did the U.S. Supreme Court rule in Wabash, St. Louis, and Pacific Railway v Illinois?
(a) Only the federal government could regulate commerce across states.
(b) Only the states had the right to regulate commerce across states.
(c) Neither the federal or state governments had the right to regulate across states.
(d) Railroads were not subject to any government regulation, state or federal.
(a)
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The multiplier increases as the MPC increases
Indicate whether the statement is true or false
If you fit a line through a scatter diagram of points that represent coordinates of consumer spending and disposable income, the slope of this line will equal the
a. propensity to consume b. variable propensity to consume. c. marginal propensity to consume. d. average propensity to consume.
If the money multiplier is 2.5 and the Fed buys $8 million in securities on the open market, transaction deposits could potentially
A. decrease by $25 million. B. increase by $25 million. C. decrease by $20 million. D. increase by $20 million.
Which of the following is NOT a common property?
A) a city park B) a main street C) a public beach D) a movie screening