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Home  arrow Student Resources  arrow Practice Quizzes  arrow Chapter 14. Railroads and Economic Development

Chapter 14. Railroads and Economic Development

This activity contains 11 questions.

Question 1.
Charging “what the traffic will bear” was a tactic commonly pursued by American railroads before they were subjected to regulation.

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Question 2.
The Interstate Commerce Commission (ICC) (1887–1995) was the very first attempt by Congress and/or the federal government to regulate the railroads; regulation had previously come solely from the states.

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Question 3.
Many railroads received government subsidies and land grants and, thus, were influenced by the government.

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Question 4.
The pure competitor usually charges higher prices and offers more output than the monopolist or oligopolist.

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Question 5.
During the era from 1880 to 1920, the U.S. economy experienced a rise in big business, an expansion in industry and increased concentration in both.

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Question 6.
Modern work in economic history by people like Robert Fogel (1964) and Albert Fishlow (1965) shows

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Question 7.
The case in business regulatory history which permitted government intervention in industry affairs was which of the following?

End of Question 7

Question 8.
The “monopoly issue” is concerned with the fact that

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Question 9.
Why did railroads come under government regulation?

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Question 10.
The Granger Cases of the 1870s

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Question 11.
In 1886, what did the U.S. Supreme Court rule in Wabash, St. Louis, and Pacific Railway v. Illinois?

End of Question 11

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