Exam 16: Inflation and Unemployment

The rule of reason was outlawed by the Clayton Act.

The costs of regulation are always greater than the benefits.

Consumer protection laws are based on:

In the Brown Shoe case, which involved a merger, the Supreme Court:

Justice Department guidelines stipulate that proposed mergers that result in a postmerger HHI between 1,000 and 1,800 will be challenged if they increase the HHI by more than _______ points.

If a foreign firm dumps or sells goods below cost, it can be more easily prosecuted through the:

Firms in Japan and Europe are subject to _______ antitrust restrictions than (as)U.S.firms.

The capture theory of regulation holds that government regulations often end up serving the interests of regulated firms.

An example of a vertical merger would be the acquisition of a tire company by a car company.

One cost of consumer protection laws is preventing consumers from buying ineffective drugs.

Airline deregulation has been unquestionably bad for consumers and the industry.

The public choice theory of regulation rests on the premise that:

Selling below cost by foreign firms is called:

When judging the anticompetitive effects of a horizontal merger, the FTC and Justice Department are likely to look most closely at the:

In the Brown Shoe Case, the Supreme Court chose to protect competitors and not the consumer.

An agreement between two or more firms to collude in order to establish a price and not to compete on the basis of price is:

Critics of antitrust laws and enforcement activity argue that:

Regulation by the government to influence the marketing of medicine and food is accomplished by the:

Megamergers were common at the end of the nineteenth century but not at the end of the twentieth century.

ICPAC (International Competition Policy Advisory Committee)was created in 1997 in recognition of the _______ in international commerce and the _______ in international anti-competitive activity.