Interstate Commerce Act

What was the main purpose of the Interstate Commerce Act in relation to the regulation of railroad rates?

• To regulate railroad rates and ensure fair and reasonable charges for transportation.

• To eliminate all regulations on railroad rates and allow for price gouging.

• To increase railroad rates and maximize profits for transportation companies.

• To create a monopoly in the railroad industry and eliminate competition.

Who was responsible for the creation of the Interstate Commerce Commission?

• Thomas Edison

• Theodore Roosevelt

• Interstate Commerce Act of 1887

• Abraham Lincoln

How did the Interstate Commerce Act impact the economy during the late 19th century?

• It had no impact on the economy

• It led to the expansion of unfair business practices

• It caused a decrease in railroad transportation

• It regulated the railroad industry and prohibited unfair practices.

What were some of the challenges faced by the Interstate Commerce Act in its early years?

• Strong enforcement mechanisms in place

• Overwhelming support from railroad companies

• Resistance from powerful railroad companies, lack of enforcement mechanisms, and legal challenges to its authority

• No legal challenges to its authority

What were some of the key enforcement mechanisms used to ensure compliance with the Interstate Commerce Act?

• Privatization of all transportation systems

• Creation of the Interstate Commerce Commission (ICC) and establishment of rules and regulations

• Implementation of a voluntary compliance program

• Reduction of fines for non-compliance

Why was the regulation of railroad rates considered important during the late 19th century?

• To increase the cost of transportation for consumers and businesses.

• To promote free market competition and eliminate government intervention.

• To encourage unfair pricing and monopolistic practices by railroad companies.

• To prevent unfair pricing and monopolistic practices by railroad companies.

What role did the Interstate Commerce Commission play in overseeing the transportation industry?

• Regulating and overseeing the transportation industry

• Managing national parks

• Issuing driver's licenses

• Regulating the food industry

How did the Interstate Commerce Act contribute to the development of fair business practices?

• It regulated the railroad industry and prohibited unfair practices such as discrimination in rates and rebates.

• It led to increased discrimination in rates and rebates

• It had no impact on fair business practices

• It allowed the railroad industry to engage in unfair practices

What were some of the legal battles that tested the authority of the Interstate Commerce Commission?

• Wabash Case, United States v. E.C. Knight Company, Northern Securities Co. v. United States

• Citizens United v. FEC

• Roe v. Wade

• Brown v. Board of Education

In what ways did the Interstate Commerce Act set a precedent for future government regulation of business and industry?

• It allowed businesses to engage in monopolistic practices

• It only applied to a specific region and did not set a precedent for future regulation

• It was the first federal law to regulate industry and promote fair competition.

• It had no impact on future government regulation of business