The US Interstate Commerce Act was enacted in which year?
a) 1865
b) 1887
c) 1902
d) 1920
Answer: b) 1887
The Interstate Commerce Act aimed to regulate which industry?
a) Agriculture
b) Banking
c) Transportation
d) Energy
Answer: c) Transportation
The act established the first regulatory agency in the United States known as:
a) Federal Trade Commission
b) Federal Communications Commission
c) Interstate Commerce Commission
d) Securities and Exchange Commission
Answer: c) Interstate Commerce Commission
The Interstate Commerce Act was passed to address issues in which mode of transportation?
a) Air travel
b) Railroads
c) Maritime shipping
d) Trucking
Answer: b) Railroads
The act aimed to prevent unfair practices by which entities?
a) Labor unions
b) State governments
c) Corporations engaged in interstate commerce
d) Foreign governments
Answer: c) Corporations engaged in interstate commerce
Which president signed the Interstate Commerce Act into law?
a) Abraham Lincoln
b) Andrew Johnson
c) Ulysses S. Grant
d) Grover Cleveland
Answer: d) Grover Cleveland
The Interstate Commerce Commission was initially given the authority to regulate which aspect of transportation?
a) Safety standards
b) Fare pricing
c) Advertising
d) International trade
Answer: b) Fare pricing
The Interstate Commerce Act aimed to promote what principle in the transportation industry?
a) Monopoly
b) Laissez-faire
c) Free competition
d) Subsidies
Answer: c) Free competition
The Interstate Commerce Commission was initially composed of how many commissioners?
a) 1
b) 3
c) 5
d) 7
Answer: c) 5
The Interstate Commerce Act prohibited what practice by railroads?
a) Hiring immigrant workers
b) Charging discriminatory rates
c) Offering discounts to frequent travelers
d) Building new rail lines
Answer: b) Charging discriminatory rates
The Interstate Commerce Commission’s powers expanded to regulate other modes of transportation, including:
a) Automobiles
b) Airplanes
c) Bicycles
d) Steamboats
Answer: d) Steamboats
The Hepburn Act of 1906 strengthened the Interstate Commerce Commission’s authority to regulate:
a) Telecommunications
b) Oil drilling
c) Railroad rates
d) Agricultural production
Answer: c) Railroad rates
The Interstate Commerce Act represented an early example of federal regulation to promote:
a) Consumerism
b) Economic competition
c) Socialism
d) Isolationism
Answer: b) Economic competition
The Sherman Antitrust Act, enacted in 1890, complemented the Interstate Commerce Act by addressing issues related to:
a) Immigration
b) Banking
c) Labor unions
d) Monopolies
Answer: d) Monopolies
The Interstate Commerce Commission’s regulatory powers were eventually transferred to which agency?
a) Department of Transportation
b) Federal Communications Commission
c) Federal Reserve System
d) Surface Transportation Board
Answer: d) Surface Transportation Board
The Interstate Commerce Act marked a significant shift in US policy towards what economic philosophy?
a) Capitalism
b) Mercantilism
c) Communism
d) Keynesianism
Answer: a) Capitalism
The Interstate Commerce Act aimed to prevent which practice by railroads that disadvantaged smaller businesses?
a) Price gouging
b) Rebates and preferential rates
c) Charitable donations
d) Import/export restrictions
Answer: b) Rebates and preferential rates
The Interstate Commerce Act was a response to concerns about the abuse of power by which business entities?
a) Agricultural cooperatives
b) Shipping companies
c) Railroad companies
d) Mining corporations
Answer: c) Railroad companies
The Interstate Commerce Act aimed to promote fairness in pricing and access for which groups?
a) Consumers and large corporations
b) Immigrant workers and farmers
c) Labor unions and socialists
d) Small businesses and farmers
Answer: d) Small businesses and farmers
The Interstate Commerce Act’s regulations covered both intrastate and interstate transportation.
a) True
b) False
Answer: b) False
The Interstate Commerce Commission was granted the power to issue which types of regulations?
a) Mandatory regulations only
b) Suggested guidelines only
c) Voluntary recommendations only
d) Both mandatory regulations and voluntary recommendations
Answer: a) Mandatory regulations only
The Interstate Commerce Act was the federal government’s response to public concerns about:
a) Air pollution
b) Labor strikes
c) Financial fraud
d) Railroad abuses
Answer: d) Railroad abuses
The Interstate Commerce Act’s impact on the railroad industry led to:
a) Increased consolidation and monopoly power
b) Decreased government involvement in commerce
c) Greater competition among railroad companies
d) Improved safety standards without regulation
Answer: a) Increased consolidation and monopoly power
The Interstate Commerce Commission was abolished in what year?
a) 1940
b) 1967
c) 1975
d) 1985
Answer: c) 1975
The Interstate Commerce Act is considered a landmark legislation in the history of what type of regulation?
a) Environmental protection
b) Consumer safety
c) Business ethics
d) Economic regulation
Answer: d) Economic regulation
The Interstate Commerce Act represented the federal government’s early attempts to balance the interests of:
a) Labor and management
b) Farmers and industrialists
c) Capital and socialism
d) Republicans and Democrats
Answer: b) Farmers and industrialists
The Interstate Commerce Act’s primary goal was to ensure fair and reasonable rates for what mode of transportation?
a) Shipping
b) Trucking
c) Railroads
d) Airlines
Answer: c) Railroads
The Interstate Commerce Commission had the power to investigate and prosecute cases of what nature?
a) Criminal offenses
b) Civil rights violations
c) Labor strikes
d) Interstate commerce violations
Answer: d) Interstate commerce violations
The Interstate Commerce Act is an example of government intervention in the economy to:
a) Promote laissez-faire capitalism
b) Regulate market monopolies
c) Encourage socialism
d) Expand international trade
Answer: b) Regulate market monopolies
The Interstate Commerce Act was a response to concerns about unfair practices by railroads, including charging excessive rates and granting preferential treatment to certain customers.
a) True
b) False
Answer: a) True
The Interstate Commerce Act was passed during a period of rapid industrialization and expansion in the United States.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission played a role in setting maximum rates for railroad transportation.
a) True
b) False
Answer: b) False
The Interstate Commerce Act was designed to promote open competition and prevent monopolistic practices in the transportation industry.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission was granted authority to regulate only intrastate transportation activities.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s provisions applied to all forms of transportation, including air travel and maritime shipping.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s effectiveness in curbing railroad abuses led to the eventual decline of the railroad industry.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s legacy includes the establishment of modern regulatory agencies to oversee various industries.
a) True
b) False
Answer: a) True
The Interstate Commerce Act’s focus on regulating transportation paved the way for later government involvement in areas like consumer protection and environmental regulation.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission had the authority to directly set prices for transportation services.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s main goal was to eliminate competition in the transportation industry.
a) True
b) False
Answer: b) False
The Interstate Commerce Commission’s regulatory powers extended to all aspects of a transportation company’s operations, including labor practices and safety standards.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s implementation marked a shift from laissez-faire economic policies to greater government oversight.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission’s actions were primarily focused on promoting the interests of large corporations and wealthy individuals.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s passage was met with widespread opposition from both business interests and the general public.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission played a key role in regulating the telecommunications industry during its early years.
a) True
b) False
Answer: b) False
The Interstate Commerce Act’s impact on the transportation industry led to improvements in efficiency, safety, and pricing practices.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission’s regulatory efforts were limited to the United States and did not extend to international trade.
a) True
b) False
Answer: a) True
The Interstate Commerce Act’s legacy is evident in the continued use of regulatory agencies to oversee various sectors of the economy.
a) True
b) False
Answer: a) True
The Interstate Commerce Commission’s establishment marked a shift towards government intervention in economic matters.
a) True
b) False
Answer: a) True
The Interstate Commerce Act’s impact on the railroad industry led to a period of economic decline and stagnation.
a) True
b) False
Answer: b) False
