In Munn v. Illinois (1877), the Supreme Court held that:
a. state laws limiting prices charged by grain elevators were a violation of the Fifth Amendment.
b. grain elevator and freight prices could only be regulated by the federal government.
c. states have a right to regulate businesses within the state that are "clothed with a public interest.".
d. organizations like the Grangers violated federal conspiracy laws.
c. states have a right to regulate businesses within the state that are "clothed with a public interest.".
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Which of the following is likely more important for explaining the slope of the aggregate-demand curve of a small economy than it is for the United States?
a. the wealth effect b. the interest-rate effect c. the exchange-rate effect d. the real-wage effect
Economics deals with choices
A) that involve the wants of individuals. B) that involve what people only need to survive. C) that people make without self-motivated interest. D) that people normally do not make.