The Famous Confrontation Between President Kennedy and the Steel Industry

question 35

Multiple Choice

The famous confrontation between President Kennedy and the steel industry in 1962 illustrates the

• A) general inability of government to control big business effectively.
• B) power of moral suasion without the need to use economic incentives.
• C) power of presidential pressure in enforcing wage and price guidelines.
• D) tendency of major industries to act in the public interest regardless of guidelines.
• E) importance of using the antitrust laws to reduce monopoly power.