Exam 22: Antitrust Law and Unfair Trade Practices

Antitrust laws are constant across changes in governmental administration.

Contracts, combinations, and conspiracies in restraint of trade are outlawed by Section 1 of the ________ Act.

The two tests the U.S. Supreme Court has developed for determining the lawfulness of a restraint are the rule of reason and the ________.

Which of the following is true with regard to price fixing?

Which of the following is a defense to a charge of monopoly?

Which of the following businesses and activities enjoys an implied exemption from antitrust laws?

Division of markets is considered to be a type of horizontal restraint of trade.

Section 2 of the Clayton Act, which is commonly referred to as the ________ Act, prohibits price discrimination in the sale of goods if certain requirements are met.

The exemption of railroads from antitrust laws is an example of a(n)________ exemption.

The rule of reason is characterized by ________.

Under the ________, the court must examine the pro- and anticompetitive effects of a challenged restraint.

A merger between two or more companies that compete in the same business and geographical market is known as ________.

The unfair advantage theory is intended to prevent wealthy companies from overwhelming the competition in a given market.

Price fixing is a rule of reason violation of Section 1 of the Sherman Act.

The Federal Trade Commission and the Department of Justice share the power to enforce the FTC Act.

Setting of minimum resale prices is a rule of reason violation of Section 1 of the Sherman Act.

Which of the following is an example of a vertical restraint of trade?

A(n)________ is a type of plea where the defendant pays a penalty without admission of guilt.

The ________ is a federal statute, enacted in 1914, that regulates mergers and prohibits certain exclusive dealing arrangements.

________ is seen when an independent choice is made by one party not to deal with another party.