Exam 16: Railroads and Economic Change

Robert Fogel's estimate of the total benefits of the railroad in the transport of agricultural products,nonagricultural products,and passenger service is _____ percent of GNP in 1890.

The Grangers would most likely support which policy?

Widespread assumptions about the first transatlantic railroad did NOT include

Railroad construction in the late 19th century

The Willie and Martin Companies were

Gains in railroad productivity were caused by

Types of price discrimination practiced by post-bellum railroads included all of the following except:

Which of the following was not used to subsidize railroad companies and their building of railroads?

The first independent federal regulatory agency was

Albro Martin and the text contend that the work of the Interstate Commerce Commission was largely for the benefit of _________.

In considering the financial history of the transcontinental railroads,the text argues that

The Grangers were:

In defining the ____ from the railroad,economic historians measure the extra real GNP that can be attributed to this innovation.

After computing the social savings from the railroads,Fogel concluded that ______.

Cartels

From 1860 to 1910,miles of railroad track in operation increased from roughly ____ miles to _____ miles.

The joining of the eastern and western sections of nation's first transcontinental railroad was commemorated with the driving of the last spike on May 10,1869

In Munn v.Illinois (1877),the Supreme Court held that

Economic theory predicts that a profit maximizing car rental agency with some market power would set its prices in what way?

In the Wabash case (1886),the Supreme Court held that