As a Result of the Hepburn Act, __________________

question 47

Multiple Choice

As a result of the Hepburn Act, __________________.

• A) the government gained sufficient power to stop all railroad abuses
• B) the government gained the power to regulate working hours in the railroad industry
• C) workers in the railroad industry received higher wages and the promise of automatic cost-of-living increases
• D) the ICC gained more authority to fix railroad rates, but the courts could still overturn rate decisions

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Definitions:

Net Income

Net income is the total earnings or profit a company makes after deducting all its expenses, including taxes, interests, and depreciation.

Gross Profit

The difference between total revenue and the cost of goods sold, representing the profitability of a company's core activities before overhead.

Operating Expenses

The costs associated with the day-to-day operations of a business, excluding the cost of goods sold.