Question 1

A restraint of trade in which two or more competitors at one level of distribution agree not to deal with others at another level of distribution is known as ________.

Accepted Answer

A)   group boycott
B)   resale price maintenance
C)   price fixing
D)   market sharing A

Question 2

Which of the following is considered to be a primary defense against Section 7 of the Clayton Act?

Accepted Answer

A)   Noerr doctrine
B)   Colgate doctrine
C)   the failing company doctrine
D)   conscious parallelism doctrine C

Question 3

Treble damages are allowed in an FTC Act violation.

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A)   Sherman Act
B)   Celler-Kefauver Act
C)   Robinson-Patman Act
D)   Clayton Antitrust Act

Question 5

Section 2 of the Sherman Act prohibits the act of monopolization.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

The rule of reason is characterized by ________.

Accepted Answer

A)   an automatic violation of Section 1 of the Sherman Act
B)   an inherently anticompetitive nature
C)   a lack of need for any evidence to deem the restraint unreasonable
D)   an evaluation of the company's market share, power, and other facets

Question 8

________ are a series of laws enacted to specifically limit anticompetitive behavior and monopolistic practices in almost all industries, businesses, and professions operating in the United States.

Accepted Answer

A)   Contract laws
B)   Antitrust laws
C)   Laissez-faire laws
D)   Canon laws

Question 9

________ is an act that requires certain firms to notify the Federal Trade Commission and the Justice Department in advance of a proposed merger and comply with a thirty-day waiting period before the merger is approved.

Accepted Answer

A)   Celler-Kefauver Act
B)   Hart-Scott-Rodino Antitrust Improvement Act
C)   Robinson-Patman Act
D)   Sherman Act

Question 10

States lack the power to enact antitrust statutes autonomously.

Accepted Answer

A) True 
 B)False

Question 11

For conscious parallelism to be proven, each manufacturer should be found to have acted on its own.

Accepted Answer

A) True 
 B)False

Question 12

The functional interchangeability test is used in defining the relevant product or service market.

Accepted Answer

A) True 
 B)False

Question 13

A private plaintiff has ________ years from the date on which an antitrust injury occurred to bring a private civil treble-damages action because only damages incurred during this period are recoverable.

Accepted Answer

A)   three
B)   two
C)   five
D)   four

Question 14

The merger of two grocery store chains that serve the same geographical market is an example of a horizontal merger.

Accepted Answer

A) True 
 B)False

Question 15

Give an account of state antitrust laws.

Accepted Answer

The answer of Give an account of state antitrust laws....

Question 16

Predatory pricing has been held to violate Section 2 of the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is true of antitrust laws?

Accepted Answer

A)   Antitrust laws are fixed and unchangeable.
B)   Antitrust laws were enacted by Congress as early as the late 1800s.
C)   Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview.
D)   Treble damages cannot be sought in antitrust lawsuits.

Question 18

How is a relevant market identified by Section 2 of the Sherman Act?

Accepted Answer

The answer of How is a relevant market identified by...

Question 19

The relevant geographical market is always considered state-wide.

Accepted Answer

A) True 
 B)False

Question 20

________ is a defense to Section 2(a) liability, which provides that a seller's price discrimination is not unlawful if the price differential is due to "differences in the cost of manufacture, sale, or delivery" of the product.

Accepted Answer

A)   Natural monopoly defense
B)   Meeting the competition defense
C)   Changing conditions defense
D)   Cost justification defense

Exam 46: Antitrust Law and Unfair Trade Practices

A restraint of trade in which two or more competitors at one level of distribution agree not to deal with others at another level of distribution is known as ________.

Which of the following is considered to be a primary defense against Section 7 of the Clayton Act?

Treble damages are allowed in an FTC Act violation.

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

Section 2 of the Sherman Act prohibits the act of monopolization.

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

The rule of reason is characterized by ________.

________ are a series of laws enacted to specifically limit anticompetitive behavior and monopolistic practices in almost all industries, businesses, and professions operating in the United States.

________ is an act that requires certain firms to notify the Federal Trade Commission and the Justice Department in advance of a proposed merger and comply with a thirty-day waiting period before the merger is approved.

States lack the power to enact antitrust statutes autonomously.

For conscious parallelism to be proven, each manufacturer should be found to have acted on its own.

The functional interchangeability test is used in defining the relevant product or service market.

A private plaintiff has ________ years from the date on which an antitrust injury occurred to bring a private civil treble-damages action because only damages incurred during this period are recoverable.

The merger of two grocery store chains that serve the same geographical market is an example of a horizontal merger.

Give an account of state antitrust laws.

Predatory pricing has been held to violate Section 2 of the Sherman Act.

Which of the following is true of antitrust laws?

How is a relevant market identified by Section 2 of the Sherman Act?

The relevant geographical market is always considered state-wide.

________ is a defense to Section 2(a) liability, which provides that a seller's price discrimination is not unlawful if the price differential is due to "differences in the cost of manufacture, sale, or delivery" of the product.