Question 1

If an activity is deemed as illegal per se,proof of the activity is proof of a violation and proof that it is in restraint of trade.

Accepted Answer

A) True 
 B)False

Question 2

What are the exceptions recognized by the Robinson-Patman amendment?

Accepted Answer

The Robinson-Patman amendment recognizes

Question 3

Attempting to determine the price of services through the use of relative-value scales is a legal method for controlling prices.

Accepted Answer

A) True 
 B)False

Question 4

Trusts are a legal arrangement in which a fiduciary

Accepted Answer

A)  forfeits his or her title to property. 
B)  benefits from the profits of a company. 
C)  acts as a bailor to another. 
D)  provides financial support to another. 
E)  holds legal title to property for benefit of another. 
A)  forfeits his or her title to property. 
B)  benefits from the profits of a company. 
C)  acts as a bailor to another. 
D)  provides financial support to another. 
E)  holds legal title to property for benefit of another.

Question 5

What is per se illegality?

Accepted Answer

Agreements falling within the per se cat

Question 6

The Federal Trade Commission enforces the Clayton Act.

Accepted Answer

A) True 
 B)False

Question 7

What is the purpose of the Sherman Act and what does it cover?

Accepted Answer

The Sherman Act provides the basic frame

Question 8

One party offers to buy the other's goods but only if the second party buys other goods from the first party.This is known as a(n)______.

Accepted Answer

A)  franchise arrangement 
B)  exclusive dealing arrangement 
C)  reciprocal dealing arrangement 
D)  tying arrangement 
E)  requirements arrangement 
A)  franchise arrangement 
B)  exclusive dealing arrangement 
C)  reciprocal dealing arrangement 
D)  tying arrangement 
E)  requirements arrangement

Question 9

The Federal Trade Commission issues industry guides,which must be followed by all industries.

Accepted Answer

A) True 
 B)False

Question 10

Briefly describe the four different types of mergers.

Accepted Answer

A horizontal merger usually combines two

Question 11

Resale price maintenance is legal only if there is no coercion or pressure other than the announced policy and its implementation.

Accepted Answer

A) True 
 B)False

Question 12

Section 2 of the Sherman Act does not regulate attempts to monopolize any part of interstate or foreign commerce.

Accepted Answer

A) True 
 B)False

Question 13

How is it possible for a manufacturer to legally control the resale price of its products?

Accepted Answer

Although resale price-maintenance scheme

Question 14

Parker v.Brown doctrine is based on the reasoning that

Accepted Answer

A)  individuals cannot be fined for violations of the Sherman Act. 
B)  concerted efforts to lobby government officials are not anticompetitive. 
C)  the Sherman Act does not apply to state governments. 
D)  not all independent actions by a manufacturer is a per se violation of the Sherman Act. 
E)  only unreasonable attempts to monopolize a market were covered by the Sherman Act. 
A)  individuals cannot be fined for violations of the Sherman Act. 
B)  concerted efforts to lobby government officials are not anticompetitive. 
C)  the Sherman Act does not apply to state governments. 
D)  not all independent actions by a manufacturer is a per se violation of the Sherman Act. 
E)  only unreasonable attempts to monopolize a market were covered by the Sherman Act.

Question 15

Agreements falling within the per se category have such a pernicious effect on competition that elaborate inquiry as to the precise harm they may cause or a business excuse for them is unnecessary.

Accepted Answer

A) True 
 B)False

Question 16

A ______ is one in which a product is sold or leased only on the condition that a buyer or lessee purchase a different product or service from a seller or lessor.

Accepted Answer

A)  executory contract 
B)  exclusive dealing contract 
C)  reciprocal dealing arrangement 
D)  tying contract 
E)  licensing agreement 
A)  executory contract 
B)  exclusive dealing contract 
C)  reciprocal dealing arrangement 
D)  tying contract 
E)  licensing agreement

Question 17

Which of the following statements is true about the sanctions of the Sherman Act?

Accepted Answer

A)  Violations may be subject to criminal fines or imprisonment, but not both. 
B)  Injured parties may collect a maximum of double damages. 
C)  Violations of the Sherman Act may be enjoined by the courts. 
D)  Its sanctions are only civil punishments and not criminal punishments. 
E)  Crimes under the Sherman Act are misdemeanors. 
A)  Violations may be subject to criminal fines or imprisonment, but not both. 
B)  Injured parties may collect a maximum of double damages. 
C)  Violations of the Sherman Act may be enjoined by the courts. 
D)  Its sanctions are only civil punishments and not criminal punishments. 
E)  Crimes under the Sherman Act are misdemeanors.

Question 18

Name some of the businesses and activities that are exempt from the Sherman Act.

Accepted Answer

Certain businesses may be exempt from th

Question 19

Private parties may bring criminal suits seeking monetary damages or injunction as a means of enforcing antitrust laws.

Accepted Answer

A) True 
 B)False

Question 20

Section 1 of the Sherman Act prohibits contracts,combinations,and conspiracies in restraint of trade or commerce.

Accepted Answer

A) True 
 B)False

Exam 16: Regulating Competitionantitrust Laws

If an activity is deemed as illegal per se,proof of the activity is proof of a violation and proof that it is in restraint of trade.

What are the exceptions recognized by the Robinson-Patman amendment?

Attempting to determine the price of services through the use of relative-value scales is a legal method for controlling prices.

Trusts are a legal arrangement in which a fiduciary

What is per se illegality?

The Federal Trade Commission enforces the Clayton Act.

What is the purpose of the Sherman Act and what does it cover?

One party offers to buy the other's goods but only if the second party buys other goods from the first party.This is known as a(n)______.

The Federal Trade Commission issues industry guides,which must be followed by all industries.

Briefly describe the four different types of mergers.

Resale price maintenance is legal only if there is no coercion or pressure other than the announced policy and its implementation.

Section 2 of the Sherman Act does not regulate attempts to monopolize any part of interstate or foreign commerce.

How is it possible for a manufacturer to legally control the resale price of its products?

Parker v.Brown doctrine is based on the reasoning that

Agreements falling within the per se category have such a pernicious effect on competition that elaborate inquiry as to the precise harm they may cause or a business excuse for them is unnecessary.

A ______ is one in which a product is sold or leased only on the condition that a buyer or lessee purchase a different product or service from a seller or lessor.

Which of the following statements is true about the sanctions of the Sherman Act?

Name some of the businesses and activities that are exempt from the Sherman Act.

Private parties may bring criminal suits seeking monetary damages or injunction as a means of enforcing antitrust laws.

Section 1 of the Sherman Act prohibits contracts,combinations,and conspiracies in restraint of trade or commerce.

Law As a Foundation for Business

The Role of Ethics in Decision Making

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

International Law

Criminal Law and Business

Business Organizations

The Regulatory Process

Financial and Securities Regulations

Regulations Protecting Consumer Purchases, privacy, and Financial Activities

Environmental Regulation

Discrimination in Employment

Employment Laws

Labormanagement Relationship

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