The Interstate Commerce Commission (ICC)
(a) was the first permanent independent federal regulatory agency.
(b) was established because, given the interstate nature of railroads, the regulation the public demanded from the states simply passed to the federal government.
(c) initially lacked the power to set railroad rates, but its founding marked the beginning of a kind
of federal government power capable of almost infinite expansion.
(d) is best described by all of the above.
(d)
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The rate of return is equal to
A) the coupon rate plus the rate of capital gains. B) the coupon rate plus the current yield. C) the current yield plus the rate of capital gains. D) the coupon rate multiplied by the rate of capital gains.
Which of the following is true of opportunism?
a. Opportunism increases the possibility that a party can gain by disregarding the contract. b. Opportunism lowers the cost of negotiation between parties when the contract is incomplete or unclear. c. Opportunism allows parties to maximize the value of their transactions. d. Opportunism leads to mutually beneficial outcomes.