The Interstate Commerce Commission (ICC) Began to Stop Regulating Trucking

question 90

True/False

The Interstate Commerce Commission (ICC) began to stop regulating trucking in the 1990s.

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Definitions:

Shortsightedness Effect

A situation where decision-makers prioritize immediate benefits over long-term gains, potentially leading to suboptimal outcomes.

Public Goods

Goods for which rivalry among consumers is absent and exclusion of nonpaying customers is difficult.

Federal Government

The national government of a federal country, which shares sovereignty with the sub-national governments (such as states or provinces) and usually has powers specifically delegated to it by a constitution.

Production Costs

The total expenses incurred in the manufacture of a product, including raw materials, labor, and overheads.