THE PROGRESSIVE ERA 1900 1917
PROGRESSIVE POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Law that set up a system of federal banks and gave government the power to control the money supply
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Law that substantially reduced the tariff; lost revenue was paid for by the graduated income tax created by the 16th Amendment
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Law that weakened monopolies and upheld the rights of unions and farm organizations
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Law that allowed the president to protect areas of scientific or historical interest on federal lands as national monuments
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Detailed explanation-1: -What Is the Clayton Antitrust Act? The Clayton Antitrust Act is a piece of legislation, passed by the U.S. Congress and signed into law in 1914, that defines unethical business practices, such as price fixing and monopolies, and upholds various rights of labor.
Detailed explanation-2: -The newly created Federal Trade Commission enforced the Clayton Antitrust Act and prevented unfair methods of competition. Aside from banning the practices of price discrimination and anti-competitive mergers, the new law also declared strikes, boycotts, and labor unions legal under federal law.
Detailed explanation-3: -Section 7 of the Clayton Act prohibits mergers and acquisitions where the effect “may be substantially to lessen competition, or to tend to create a monopoly.” As amended by the Robinson-Patman Act of 1936, the Clayton Act also bans certain discriminatory prices, services, and allowances in dealings between merchants.
Detailed explanation-4: -The Sherman Antitrust Act was amended by the Clayton Antitrust Act in 1914, which addressed specific practices that the Sherman Act did not ban. It also closed loopholes that the Sherman Act established, including those that dealt specifically with anti-competitive mergers, monopolies, and price discrimination.