Question 1

An agreement among competing firms to divide up the available market by assigning each other exclusive territories is determined as a legal agreement.

Accepted Answer

A) True 
 B)False

Question 2

The Sherman Act denies the federal courts injunctive powers to remedy antitrust violations.

Accepted Answer

A) True 
 B)False

Question 3

Behavior that affects only intrastate commerce is within the scope of the federal antitrust laws.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true of vertical price-fixing?

Accepted Answer

A)  It is an attempt by competitors to interfere with the market and control prices. 
B)  It is not within the scope of Section 1 of the Sherman Act. 
C)  It is illegal per se for manufacturers to state a "suggested retail price" for their products. 
D)  It is an attempt by manufacturers to control the resale price of their products. 
A)  It is an attempt by competitors to interfere with the market and control prices. 
B)  It is not within the scope of Section 1 of the Sherman Act. 
C)  It is illegal per se for manufacturers to state a "suggested retail price" for their products. 
D)  It is an attempt by manufacturers to control the resale price of their products.

Question 5

Silverlight Inc.,a cell phone store,agrees to sell cell phones and related accessories manufactured only by Moore Corp.This is an example of a(n)_____.

Accepted Answer

A)  requirements contract 
B)  exclusive dealing contract 
C)  tie-in contract 
D)  adhesion contract 
A)  requirements contract 
B)  exclusive dealing contract 
C)  tie-in contract 
D)  adhesion contract

Question 6

The _____ gives the federal courts broad injunctive powers to remedy antitrust violations.

Accepted Answer

A)  Noerr Doctrine 
B)  Sherman Act 
C)  Parker Doctrine 
D)  Robinson-Patman Act 
A)  Noerr Doctrine 
B)  Sherman Act 
C)  Parker Doctrine 
D)  Robinson-Patman Act

Question 7

In a typical predatory-pricing scheme,the predator:

Accepted Answer

A)  reflects changing conditions in the marketplace affecting the marketability of competitor's goods. 
B)  reduces the sale price of its product to below cost, hoping to drive competitors out of business. 
C)  does not aim to create monopoly. 
D)  furnishes customers with certain services that were not provided by the competitors. 
A)  reflects changing conditions in the marketplace affecting the marketability of competitor's goods. 
B)  reduces the sale price of its product to below cost, hoping to drive competitors out of business. 
C)  does not aim to create monopoly. 
D)  furnishes customers with certain services that were not provided by the competitors.

Question 8

The Sherman Act:

Accepted Answer

A)  makes contracts in restraint of trade and monopolization illegal. 
B)  does not provide criminal penalties for violations of its provisions. 
C)  does not give the federal courts any injunctive powers. 
D)  was specifically designed to attack tie-in, exclusive dealing, and requirements contracts. 
A)  makes contracts in restraint of trade and monopolization illegal. 
B)  does not provide criminal penalties for violations of its provisions. 
C)  does not give the federal courts any injunctive powers. 
D)  was specifically designed to attack tie-in, exclusive dealing, and requirements contracts.

Question 9

If one automobile firm merges with another automobile firm,it is called a _____.

Accepted Answer

A)  push down merger 
B)  vertical merger 
C)  conglomerate merger 
D)  horizontal merger 
A)  push down merger 
B)  vertical merger 
C)  conglomerate merger 
D)  horizontal merger

Question 10

Licensing arrangements:

Accepted Answer

A)  are per se violations of U.S. antitrust laws. 
B)  should undergo rule of reason analysis. 
C)  should be subject to strict scrutiny analysis. 
D)  are unlikely to raise antitrust issues. 
A)  are per se violations of U.S. antitrust laws. 
B)  should undergo rule of reason analysis. 
C)  should be subject to strict scrutiny analysis. 
D)  are unlikely to raise antitrust issues.

Exam 45: The Antitrust Laws

An agreement among competing firms to divide up the available market by assigning each other exclusive territories is determined as a legal agreement.

The Sherman Act denies the federal courts injunctive powers to remedy antitrust violations.

Behavior that affects only intrastate commerce is within the scope of the federal antitrust laws.

Which of the following is true of vertical price-fixing?

Silverlight Inc.,a cell phone store,agrees to sell cell phones and related accessories manufactured only by Moore Corp.This is an example of a(n)_____.

The _____ gives the federal courts broad injunctive powers to remedy antitrust violations.

In a typical predatory-pricing scheme,the predator:

The Sherman Act:

If one automobile firm merges with another automobile firm,it is called a _____.

Licensing arrangements:

Law, Legal Reasoning, and the Legal Profession

Dispute Settlement

Business Ethics and Corporate Social Responsibility

Business and the Constitution

Crimes

Intentional Torts

Negligence and Strict Liability

Licensing and Intellectual Propertypart Two Contracts

The Nature and Origins of Contracts

Creating a Contract: Offers

Creating a Contract: Acceptances

Consideration

Capacity to Contract

Voluntary Consent

Illegality

The Form and Meaning of Contracts

Third Parties Contract Rights

Performance and Remediespart Three Sales

Formation and Terms of Sales Contracts

Warranties and Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contractspart Four Agency and Employment

The Agency Relationship-Creation, duties, and Termination

Liability of Principals and Agents to Third Parties

Employment Laws-Part Five Business Organizations

Which Form of Business Organization

Partnerships

Formation and Termination of Corporations

Management of the Corporate Business

Financing the Corporation and the Role of the Shareholders

Securities Regulation

Legal Liability of Accountantspart Six Property

Personal Property and Bailments

Real Property

Landlord and Tenant

Estates and Trusts

Insurance-Part Seven Commercial Paper

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Fund Transfers-Part Eight Credit Transactions

Introduction to Security

Security Interests in Personal Property

Bankruptcy-Part Nine Government Regulation

Consumer Protection Laws

Environmental Regulation

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