Probably the Most Important Duty of the Texas Railroad Commission

question 68

Multiple Choice

Probably the most important duty of the Texas Railroad Commission from the standpoint of the rest of the United States is

• A) regulating the production of oil and natural gas.
• B) setting the price of Texas-produced petroleum sold outside Texas.
• C) regulating intrastate trucking commerce.
• D) regulating the storage of toxic waste in underground salt domes.

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Definitions:

M2

M2 refers to a measure of the money supply that includes cash, checking deposits, and easily convertible near money.

M3

A measure of the money supply that includes M2 plus large time deposits, institutional money market funds, and other large liquid assets.

Money Supply

The broad total of financial assets available in an economy at a specified moment.

Gold

A precious metal used as an investment, a currency hedge, and in various industrial applications, valued for its rarity and physical properties.