Question 1

An express agreement is a must to create a contract in restraint of trade.

Accepted Answer

A) True 
 B)False

Question 2

"For purposes of the rule of reason, Sherman Act violations may be divided into two categories." Explain.

Accepted Answer

For purposes of the rule of reason, Sher

Question 3

When a product is sold only on condition that the buyer also purchases a second different product from the seller, the transaction is called a/an:

Accepted Answer

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

Question 4

Defendants often use a plea of nolo contendere in civil actions to avoid the use of evidence from the trial being used in the criminal case.

Accepted Answer

A) True 
 B)False

Question 5

If the prices fixed are fair or reasonable, it is not considered to be price fixing.

Accepted Answer

A) True 
 B)False

Question 6

The _____ holds that contracts or conspiracies in restraint of trade are illegal only if they constituted undue or unreasonable restraints of trade and that only unreasonable attempts to monopolize are covered by the Sherman Act.

Accepted Answer

A)  rule of per se illegality 
B)  Parker v. Brown doctrine 
C)  rule of reason 
D)  duty-to-deal doctrine 
E)  Ker-Frisbie doctrine 
A)  rule of per se illegality 
B)  Parker v. Brown doctrine 
C)  rule of reason 
D)  duty-to-deal doctrine 
E)  Ker-Frisbie doctrine

Question 7

According to the Parker v. Brown doctrine:

Accepted Answer

A)  the usual and legitimate union activity that is exempt from the Sherman Act. 
B)  concerted efforts to lobby government officials are not anticompetitive. 
C)  the Sherman Act does not apply to state government. 
D)  not all independent action by a manufacturer is a per se violation of the Sherman Act. 
E)  only unreasonable attempts to monopolize were covered by the Sherman Act. 
A)  the usual and legitimate union activity that is exempt from the Sherman Act. 
B)  concerted efforts to lobby government officials are not anticompetitive. 
C)  the Sherman Act does not apply to state government. 
D)  not all independent action by a manufacturer is a per se violation of the Sherman Act. 
E)  only unreasonable attempts to monopolize were covered by the Sherman Act.

Question 8

An agreement to allocate geographical areas among competitors is called a _______ territorial agreement.

Accepted Answer

A)  bilateral 
B)  vertical 
C)  horizontal 
D)  competitive 
E)  congeneric 
A)  bilateral 
B)  vertical 
C)  horizontal 
D)  competitive 
E)  congeneric

Question 9

Concerted activities are illegal per se.

Accepted Answer

A) True 
 B)False

Question 10

Vertical price fixing is also called:

Accepted Answer

A)  resale price maintenance. 
B)  predatory maintenance. 
C)  linear price fixing. 
D)  express price fixing. 
E)  gold fixing. 
A)  resale price maintenance. 
B)  predatory maintenance. 
C)  linear price fixing. 
D)  express price fixing. 
E)  gold fixing.

Question 11

The cable operators in North Bedford agreed to divide the market among themselves, with each operator assigned a specific region in the city. Discuss the relevance of this agreement with reference to the Sherman Act.

Accepted Answer

Territorial agreements restrain trade by

Question 12

What led to the enactment of the Clayton Act?

Accepted Answer

By 1914, it was obvious that the Sherman

Question 13

Mere possession of monopoly power is not a violation of the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 14

What are franchise contracts?

Accepted Answer

Franchise contracts often require that t

Question 15

Why did Congress pass the Celler-Kefauver amendment?

Accepted Answer

In 1950, Congress passed the Celler-Kefa

Question 16

The Robinson-Patman amendment recognizes certain exceptions. What are they?

Accepted Answer

The Robinson-Patman amendment recognizes

Question 17

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

Accepted Answer

The purpose of the Sherman Act is to sto

Question 18

What necessitated the Robinson-Patman amendment to the Clayton Act?

Accepted Answer

In the 1920s and early 1930s, various te

Question 19

In the mid-1970s, the Supreme Court interpreted the Sherman Act to include:

Accepted Answer

A)  services. 
B)  goods. 
C)  interstate sale of goods. 
D)  real estate. 
E)  stocks. 
A)  services. 
B)  goods. 
C)  interstate sale of goods. 
D)  real estate. 
E)  stocks.

Question 20

What is required to prove a conspiracy to monopolize?

Accepted Answer

A conspiracy to monopolize req

Exam 16: Regulating Competition_Antitrust Laws

An express agreement is a must to create a contract in restraint of trade.

"For purposes of the rule of reason, Sherman Act violations may be divided into two categories." Explain.

When a product is sold only on condition that the buyer also purchases a second different product from the seller, the transaction is called a/an:

Defendants often use a plea of nolo contendere in civil actions to avoid the use of evidence from the trial being used in the criminal case.

If the prices fixed are fair or reasonable, it is not considered to be price fixing.

The _____ holds that contracts or conspiracies in restraint of trade are illegal only if they constituted undue or unreasonable restraints of trade and that only unreasonable attempts to monopolize are covered by the Sherman Act.

According to the Parker v. Brown doctrine:

An agreement to allocate geographical areas among competitors is called a _______ territorial agreement.

Concerted activities are illegal per se.

Vertical price fixing is also called:

The cable operators in North Bedford agreed to divide the market among themselves, with each operator assigned a specific region in the city. Discuss the relevance of this agreement with reference to the Sherman Act.

What led to the enactment of the Clayton Act?

Mere possession of monopoly power is not a violation of the Sherman Act.

What are franchise contracts?

Why did Congress pass the Celler-Kefauver amendment?

The Robinson-Patman amendment recognizes certain exceptions. What are they?

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

What necessitated the Robinson-Patman amendment to the Clayton Act?

In the mid-1970s, the Supreme Court interpreted the Sherman Act to include:

What is required to prove a conspiracy to monopolize?

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