According to Walton and Rockoff, the Primary Reason for the Demise

question 26

Multiple Choice

According to Walton and Rockoff, the primary reason for the demise of the canal system was

• A) excessive reliance on individual entrepreneurs so that a system of canals was never created.
• B) excessive government regulation that kept canal rates and profits too low.
• C) environmental damage from deforestation that left canals flooded at some times and dry at others.
• D) competition from the railroads.

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Definitions:

Criminal Fraud

The act of deliberately deceiving another individual or entity with the intention of causing damage, often financial.

Damages

A monetary compensation awarded to an individual for loss or injury as a result of the act or omission of another.

False Representation

A deceitful statement or action made to induce someone into an agreement or situation that benefits the perpetrator.

Fourth Amendment

Part of the United States Constitution, it protects citizens against unreasonable searches and seizures, requiring a warrant issued upon probable cause.