Regarding the Interstate Commerce Commission (ICC),
(a) historians agree that it was primarily "captured" by the industry that it was supposed to regulate.
(b) historians agree that it was primarily "captured" by passengers and shippers to the disadvantage of the railroads.
(c) historians generally agree that it was not "captured" by any group, but rather served the
public well.
(d) historians do not "agree" on any of the above.
(d)
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In the specific factors model, a 5% increase in the price of food accompanied by a 5% increase in the price of cloth will cause wages to ________, the production of cloth to ________, and the production of food to ________
A) increase by 5%; remain unchanged; remain unchanged B) increase by less then 5%; decrease; increase C) increase by more then 5%; increase; remain unchanged D) remain constant; increase; increase E) remain constant; decrease; decrease
Individuals who lease a new car
A) have a higher discount rate than those who buy. B) have a lower discount rate than those who buy. C) have the same discount rate as those who buy. D) behave irrationally and are taken advantage of by car companies.