Question

example (1): president jimmy carter deregulated the price floors in much of the trucking industry. trucks carry almost all of the consumer goods that you purchase, so almost every time you purchase something, you're paying money to a trucking company. what do you think happened in the trucking industry after deregulation? a) the price of trucking services fell. b) truckers earned less money. c) consumers saved a lot of money. d) all of the above are correct.

Answer 1

Following the deregulation of the trucking industry by President Jimmy Carter, it is likely that the prices of trucking services fell, truckers earned less money, and consumers saved a lot of money, suggesting that all the given options (a, b, and c) are correct.

Step-by-step explanation:

When President Jimmy Carter deregulated the price floors in much of the trucking industry, a series of outcomes likely followed. The deregulation, part of a broader wave that affected many industries, allowed companies to compete more freely on pricing and routes. As regulations that had previously limited which firms could enter the market and what prices they could charge were reduced or eliminated, we would expect that the prices of trucking services fell, leading to increased competition.

In this environment of heightened competition, it is likely that truckers earned less money, at least in some instances, as companies vied to offer the most competitive rates. Lastly, with lowered cost structures in the logistics and delivery chain, consumers saved a lot of money on their purchases thanks to the reduced transportation costs being passed down. Therefore, all of the listed outcomes are correct: a) the price of trucking services fell, b) truckers earned less money, and c) consumers saved a lot of money.