Flashcards on Reforming Business
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One reason that the government faced difficulty defending the Sherman Antitrust Act in court was because
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the act did not clearly define the terms "trust" or "monopoly."
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What did the Sherman Antitrust Act make illegal in 1890?
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trusts and monopolies
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How did the railroads react to state governments' legislation during the Gilded Age?
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Railroad companies challenged the new laws in the courts
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What was a goal of the Sherman Antitrust Act of 1890?
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to limit the power of big corporations
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Many opponents of the Sherman Antitrust Act supported laissez-faire policies. What was one of the key ideas of laissez-faire?
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Government regulation made goods more costly
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In the late 1800s, the first state government reform legislation regarding railroad practices addressed
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rates for shipping and storing grain
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Why did the Interstate Commerce Commission have difficulty enforcing reforms?
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The courts often ruled against the commission
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In 1887, Congress established a commission to regulate the railroads by passing
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the Interstate Commerce Act
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During the Gilded Age, reform laws regarding the government regulation of business were
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somewhat effective
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How did the case United States v. E.C. Knight weaken the Sherman Antitrust Act?
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The Supreme Court ruled that the American Sugar Company was a legal monopoly since it existed only in one state
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What did the Interstate Commerce Act ban in 1887?
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railroad pools
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A provision of the Interstate Commerce Act was that railroads had to make their rates public. This was important so that
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railroads couldn't unfairly charge different rates
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Protests in the late 1800s by what group led to some state laws that attempted but ultimately failed to reform railroad practices?
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farmers
