The Interstate Commerce Commission regulated the trucking industry for many years in order to
a. shield the railroads from competition in trucking
b. prevent economic profits from being made
c. regulate the truck monopoly in the interests of the consumer
d. prevent economies of scale from occurring
e. punish truck drivers for unionizing
A
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Which of the following is a problem inherent in centrally planned economies?
A) Households and firms make poor decisions in choosing how resources are allocated. B) There is too little production of low-cost, high-quality goods and services. C) Production managers are more concerned with satisfying consumer wants than with satisfying government's orders. D) Exports tend to exceed imports.
Incentive pay plans that seek to tie worker compensation more closely to worker performance includes the following, except:
A. Commissions or royalties B. Seniority-based pay scale C. Stock options and profit-sharing D. Efficiency wages