Bank Exams Questions

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The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices.

The reason that the Interstate Commerce Act required that rates be published was to avoid secret rebates and similar deals. Until then, big shippers would demand rebates from railroads, which would in effect reduce their shipping costs without letting competitors know. This is anti-competitive.

Hence, the Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates.

Urea is produced in the liver and is a metabolite (breakdown product) of amino acids. Ammonium ions are formed in the breakdown of amino acids. Some are used in the biosynthesis of nitrogen compounds. Excess ammonium ions are converted to urea.