Some Economic Historians Argue That the Interstate Commerce Commission (ICC)was

question 15

Multiple Choice

Some economic historians argue that the Interstate Commerce Commission (ICC) was the first case of the "capture" of a federal regulatory commission.What does this mean?

• A) The railroads used the ICC to solve the problems of cartel management.
• B) The users of the railroads-passengers and shippers-influenced the ICC to keep railroad rates high and the quality of those services high.
• C) The railroads used the Commission to keep rates high and keep potential new railroads from entering the business.
• D) Foreign investors high jacked the ICC to protect their railroad investrments.

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Definitions:

Contextual Intelligence

The ability to understand the limits of our knowledge and adapt that knowledge to an environment different from the one in which it was developed.

Practical Application

The use of theoretical knowledge in a real-world context, demonstrating how concepts or techniques can be applied to solve problems.

Creative Intelligence

The ability to produce new products, ideas, or inventing novel solutions to problems.

Informal Reasoning

The process of reasoning without a strict structure or rules, often used in everyday decision-making and problem-solving.