Match the Term with the Definition

question 61

Multiple Choice

Match the term with the definition.
-Congress created this regulatory agency designed to oversee the railroad industry after the Supreme Court decision in Wabash v. Illinois (1886) effectively denied states the right to regulate railroads. The agency proved weak and did not immediately pose a threat to the industry.

• A)civil service reform
• B)finance capitalism
• C)free silver
• D)Gilded Age
• E)gospel of wealth
• F)Interstate Commerce Commission (ICC)
• G)Jim Crow
• H)trust
• I)Sherman Antitrust Act
• J)social Darwinism
• K)spoils system
• L)Woman's Christian Temperance Union (WCTU)

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Definitions:

Inadequacy of Consideration

A situation where the value exchanged in a contract is significantly disproportionate, raising questions about the fairness of the agreement.

Wholesale Price

The cost of goods sold in bulk to retailers or distributors, generally lower than retail price.

Seal

A device or symbol used to authenticate documents as genuine or to signify approval or ratification.

Consideration

A concept in contract law, referring to something of value exchanged between parties as part of an agreement.