The ________ Was the First Administrative Agency Created by Congress

question 87

Multiple Choice

The ________ was the first administrative agency created by Congress.

• A)Interstate Commerce Commission
• B)Occupational Safety and Health Administration
• C)Food and Drug Administration
• D)Internal Revenue Service

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Definitions:

Constant Cost Industry

An industry in which the input prices and the costs of production do not change as the industry's output changes.

Downward Sloping

Describes a curve or line on a graph that shows a decrease in one variable as another variable increases, typical of demand curves in economics.

Aluminum Cans

Containers made from aluminum used for packaging beverages and food items.

Long-run Average Total Cost

A metric reflecting the per-unit cost of producing a certain output level, considering all variable and fixed costs over time.