Question 1

If two or more firms act the same but no concerted action is shown,can they be held for violation for Section 1 of the Sherman Act?

Accepted Answer

Sometimes two or more firms act the same

Question 2

A horizontal restraint of trade occurs when two or more competitors at different levels of distribution enter into a contract to restrain trade.

Accepted Answer

A) True 
 B)False

Question 3

How do courts determine the line of commerce that will be affected by a merger?

Accepted Answer

Determining the line of commerce that wi

Question 4

The three largest cola manufacturers in a country agree among themselves that each one will sell the products only in certain predetermined geographical "territories." This is an example of ________.

Accepted Answer

A)  accommodation 
B)  price fixing 
C)  market sharing 
D)  group boycott 
A)  accommodation 
B)  price fixing 
C)  market sharing 
D)  group boycott

Question 5

Which of the following is true of horizontal mergers?

Accepted Answer

A)  They do not create an increase in market share. 
B)  They result in an increase in concentration of the relevant market. 
C)  The merging firms serve different markets. 
D)  They are mergers between firms in unrelated businesses. 
A)  They do not create an increase in market share. 
B)  They result in an increase in concentration of the relevant market. 
C)  The merging firms serve different markets. 
D)  They are mergers between firms in unrelated businesses.

Question 6

The rationale behind the ________ is that the right to petition the government has precedence because it is guaranteed by the Bill of Rights.

Accepted Answer

A)  failing company doctrine 
B)  unfair advantage theory 
C)  Noerr doctrine 
D)  Colgate doctrine 
A)  failing company doctrine 
B)  unfair advantage theory 
C)  Noerr doctrine 
D)  Colgate doctrine

Question 7

The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by applying the ________.

Accepted Answer

A)  Colgate doctrine 
B)  Noerr doctrine 
C)  per se rule 
D)  rule of reason 
A)  Colgate doctrine 
B)  Noerr doctrine 
C)  per se rule 
D)  rule of reason

Question 8

Which of the following is a vertical restraint of trade?

Accepted Answer

A)  group boycott 
B)  price fixing 
C)  resale price maintenance 
D)  division of markets 
A)  group boycott 
B)  price fixing 
C)  resale price maintenance 
D)  division of markets

Question 9

Favorable credit terms and freight charges are examples of indirect price discrimination that violate the Robinson-Patman Act.

Accepted Answer

A) True 
 B)False

Question 10

________ is a restraint of trade in which competitors agree that each will serve only a designated portion of the market.

Accepted Answer

A)  Resale market price maintenance 
B)  Profit-sharing 
C)  Market sharing 
D)  Gainsharing 
A)  Resale market price maintenance 
B)  Profit-sharing 
C)  Market sharing 
D)  Gainsharing

Question 11

Which of the following is a per se violation of Section 1 of the Sherman Act?

Accepted Answer

A)  horizontal price fixing 
B)  price discrimination 
C)  a unilateral refusal to deal 
D)  conscious parallelism 
A)  horizontal price fixing 
B)  price discrimination 
C)  a unilateral refusal to deal 
D)  conscious parallelism

Question 12

The ________,which was enacted in 1950,widened the scope of Section 7 of the Clayton Act to include asset acquisitions.

Accepted Answer

A)  Hart-Scott-Rodino Antitrust Improvement Act 
B)  Sherman Act 
C)  Celler-Kefauver Act 
D)  Robinson-Patman Act 
A)  Hart-Scott-Rodino Antitrust Improvement Act 
B)  Sherman Act 
C)  Celler-Kefauver Act 
D)  Robinson-Patman Act

Question 13

Which of the following is a horizontal restraint of trade?

Accepted Answer

A)  resale price maintenance 
B)  division of markets 
C)  unilateral refusal to deal 
D)  conscious parallelism 
A)  resale price maintenance 
B)  division of markets 
C)  unilateral refusal to deal 
D)  conscious parallelism

Question 14

________ are mergers between firms in totally unrelated businesses.

Accepted Answer

A)  Market extension mergers 
B)  Conglomerate mergers 
C)  Horizontal mergers 
D)  Forward vertical mergers 
A)  Market extension mergers 
B)  Conglomerate mergers 
C)  Horizontal mergers 
D)  Forward vertical mergers

Question 15

The setting of minimum resale prices is not a per se violation of Section 1 of the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 16

A merger between two regional fruit-sellers that do not sell fruit in the same geographical area is an example of a ________.

Accepted Answer

A)  market extension merger 
B)  conglomerate merger 
C)  horizontal merger 
D)  vertical merger 
A)  market extension merger 
B)  conglomerate merger 
C)  horizontal merger 
D)  vertical merger

Question 17

Under Section 3 of the Clayton Act,a tying arrangement is lawful if there is some justifiable reason for it.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is true of antitrust laws?

Accepted Answer

A)  Antitrust laws are fixed and unchangeable. 
B)  Each new administration adopts a different policy for enforcing antitrust laws. 
C)  Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview. 
D)  Treble damages cannot be sought in antitrust lawsuits. 
A)  Antitrust laws are fixed and unchangeable. 
B)  Each new administration adopts a different policy for enforcing antitrust laws. 
C)  Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview. 
D)  Treble damages cannot be sought in antitrust lawsuits.

Question 19

Compare and contrast the two rules developed by the U.S.Supreme Court for determining the lawfulness of a restraint under Section 1 of the Sherman Act.

Accepted Answer

The rule of reason requires a balancing

Question 20

Antitrust laws are enacted to limit anticompetitive behavior.

Accepted Answer

A) True 
 B)False

Exam 33: Antitrust Law and Unfair Trade Practices

If two or more firms act the same but no concerted action is shown,can they be held for violation for Section 1 of the Sherman Act?

A horizontal restraint of trade occurs when two or more competitors at different levels of distribution enter into a contract to restrain trade.

How do courts determine the line of commerce that will be affected by a merger?

The three largest cola manufacturers in a country agree among themselves that each one will sell the products only in certain predetermined geographical "territories." This is an example of ________.

Which of the following is true of horizontal mergers?

The rationale behind the ________ is that the right to petition the government has precedence because it is guaranteed by the Bill of Rights.

The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by applying the ________.

Which of the following is a vertical restraint of trade?

Favorable credit terms and freight charges are examples of indirect price discrimination that violate the Robinson-Patman Act.

________ is a restraint of trade in which competitors agree that each will serve only a designated portion of the market.

Which of the following is a per se violation of Section 1 of the Sherman Act?

The ________,which was enacted in 1950,widened the scope of Section 7 of the Clayton Act to include asset acquisitions.

Which of the following is a horizontal restraint of trade?

________ are mergers between firms in totally unrelated businesses.

The setting of minimum resale prices is not a per se violation of Section 1 of the Sherman Act.

A merger between two regional fruit-sellers that do not sell fruit in the same geographical area is an example of a ________.

Under Section 3 of the Clayton Act,a tying arrangement is lawful if there is some justifiable reason for it.

Which of the following is true of antitrust laws?

Compare and contrast the two rules developed by the U.S.Supreme Court for determining the lawfulness of a restraint under Section 1 of the Sherman Act.

Antitrust laws are enacted to limit anticompetitive behavior.

Legal Heritage and the Digital Age

Constitutional Law for Business and E-commerce

Courts and Jurisdiction

Judicial Alternative Administrative and E-Dispute Resolution

Intentional Torts and Negligence

Criminal Law and Cyber Crimes

Intellectual Property and Cyber Piracy

Ethics and Social Responsibility of Business

Nature of Traditional and E-Contracts

Agreement and Consideration

Capacity and Legality

Genuineness of Assent and Statute of Frauds

Third-Party Rights and Discharge

Breach of Contract and Remedies

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties and Product Liability

Creation and Transfer of Negotiable Instruments

Holder in Due Course and Liability of Parties

Banking System and Electronic Financial Transactions

Credit, Real Property Financing, and Secured Transactions

Bankruptcy and Reorganization

Agency law

Small Business, Entrepreneurship, and Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchise and Special Forms of Business

Investor Protection, E-Securities, and Wall Street Reform

Consumer Safety and Environmental Protection

Labor, Worker Protection, and Immigration Laws

Equal Opportunity in Employment

Personal Property, Bailment, and Insurance

Real Property, Landlord-Tenant Law, and Land Use Regulation

Family Law, Wills, and Trusts

Accountants' Duties and Liability

International and World Trade Law

Filters