Question 1

Section 2 of the Sherman Act applies to states,and they may be used as defendants.

Accepted Answer

A) True 
 B)False

Question 2

Which analysis,if any,is applied to territorial and customer restrictions imposed by a manufacturer on a retailer?

Accepted Answer

A)   Both territorial and customer restrictions are generally analyzed under the rule-of-reason test.
B)   Both territorial and customer restrictions are generally analyzed on a per se basis.
C)   Territorial restrictions are analyzed under the rule-of-reason test, while customer restrictions are analyzed on a per se basis.
D)   Customer restrictions are analyzed under the rule-of-reason test, while territorial restrictions are analyzed on a per se basis.
E)   Neither territorial nor customer restrictions are analyzed on any basis because both have been ruled legal in all cases.F) A) and C)
G) B) and E)

Question 3

When was the Interstate Commerce Act passed?

Accepted Answer

A)   1887
B)   1920
C)   1934
D)   1945
E)   1964F) A) and E)
G) None of the above

Question 4

What does a judge consider when conducting a rule-of-reason analysis?

Accepted Answer

When engaging in rule-of-reason analysis...

Question 5

Which of the following is false regarding antitrust law in Japan?

Accepted Answer

A)   Mergers are regulated.
B)   Cartels are illegal if they restrain competition substantially contrary to public interest.
C)   Unfair business practices are banned.
D)   Keiretsu as a group have been outlawed.
E)   The law prohibits private monopolization.F) A) and B)
G) None of the above

Question 6

Under the Clayton Act,the Department of Justice is most likely to challenge which of the following types of mergers?

Accepted Answer

A)   Horizontal
B)   Vertical
C)   Conglomerate
D)   Joining
E)   PredatoryF) C) and D)
G) A) and E)

Question 7

Group boycotts by which two or more competing sellers refuse to sell their products to a certain customer are generally per se violations of the Sherman Act.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is false regarding groups and activities that are exempt from antitrust law?

Accepted Answer

A)   Individuals in the fishing industry can cooperate for purposes of catching and preparing fish for market.
B)   Labor unions can organize and bargain.
C)   When insurance businesses are subject to state antitrust regulation, they are exempt from federal antitrust law.
D)   States can set their own quotas regarding the amount of oil to be sold in interstate commerce.
E)   Regulatory bodies of the airline and banking industry have authority to approve behaviors that would otherwise violate antitrust law, but the same is not true for the utility industry.F) B) and E)
G) D) and E)

Question 9

The Sherman Act attempts to stop trusts from unfairly restricting market competition.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not an example of a horizontal restraint of trade?

Accepted Answer

A)   Price fixing
B)   Resale-price maintenance agreements
C)   Group boycotts
D)   Trade associations
E)   Joint venturesF) A) and B)
G) B) and C)

Question 11

Which two markets does a court consider in identifying the relevant market for monopolization purposes?

Accepted Answer

A)   Product and geographic
B)   Geographic and customer
C)   Reasonable and product
D)   Customer and product
E)   Reasonable and customerF) D) and E)
G) B) and C)

Question 12

Section _____ of the Clayton Act prohibits anticompetitive mergers or acquisitions.

Accepted Answer

A)   2
B)   4
C)   6
D)   7
E)   10F) D) and E)
G) B) and C)

Question 13

Which of the following prohibits price discrimination by sellers?

Accepted Answer

A)   Section 2 of the Clayton Act
B)   Section 3 of the Sherman Act
C)   Section 2 of the Sherman Act
D)   Section 1 of the Sherman Act
E)   The Federal Trade Commission ActF) A) and E)
G) All of the above

Question 14

Which of the following is not a factor taken into consideration under the rule-of-reason analysis?

Accepted Answer

A)   The nature and purpose of the restraint on trade
B)   The scope of the restraint
C)   The effect of the restraint on business and competition
D)   The effect of the restraint on the defending businesses
E)   The intent of the restraintF) C) and E)
G) B) and E)

Question 15

The type of service Benny provides,tours,would be referred to as which of the following markets for purposes of determining the relevant market?

Accepted Answer

A)   Product
B)   Consumer
C)   Offered
D)   Utilized
E)   DisputedF) A) and E)
G) None of the above

Question 16

A merger between two or more companies producing the same or similar products is a ______ merger.

Accepted Answer

A)   Horizontal
B)   Vertical
C)   Conglomerate
D)   Joining
E)   PredatoryF) A) and B)
G) A) and C)

Question 17

The agreements between Shirley and sellers to the effect that the stores would only carry Shirley's gear are ______ contracts.

Accepted Answer

A)   Mandatory-dealing
B)   Exclusionary
C)   Exclusive-dealing
D)   Unilateral
E)   PrimaryF) A) and D)
G) A) and E)

Question 18

A business arrangement in which stock owners appoint beneficiaries and place their securities with trustees who manage the company and pay a share of their earnings to the stockholders is referred to as a trust.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is false regarding enforcement of the Sherman Act?

Accepted Answer

A)   The Antitrust Division of the Department of Justice can bring criminal or civil actions against violators.
B)   If a corporation commits a crime under the Sherman Act, the corporation could face a $10 million fine for each offense.
C)   Officers and employees who are convicted under the Sherman Act face a maximum fine of $350,000 and/or jail time of up to three years.
D)   If a party is harmed by a company's anticompetitive behavior, the party can bring a private suit under the Sherman Act.
E)   Treble damages are not available under the Sherman Act.F) C) and D)
G) B) and C)

Question 20

Set forth and describe the three specific types of injuries under the Robinson-Patman Act.

Accepted Answer

The three specific types of injuries are...

Exam 47: Antitrust Law

Which analysis,if any,is applied to territorial and customer restrictions imposed by a manufacturer on a retailer?

Correct AnswerverifiedShow Answer

Which of the following prohibits price discrimination by sellers?

Correct AnswerverifiedShow Answer

Which two markets does a court consider in identifying the relevant market for monopolization purposes?

Correct AnswerverifiedShow Answer

Section _____ of the Clayton Act prohibits anticompetitive mergers or acquisitions.

Correct AnswerverifiedShow Answer

Under the Clayton Act,the Department of Justice is most likely to challenge which of the following types of mergers?

Correct AnswerverifiedShow Answer

Group boycotts by which two or more competing sellers refuse to sell their products to a certain customer are generally per se violations of the Sherman Act.

Correct AnswerverifiedShow Answer

The type of service Benny provides,tours,would be referred to as which of the following markets for purposes of determining the relevant market?

Correct AnswerverifiedShow Answer

When was the Interstate Commerce Act passed?

Correct AnswerverifiedShow Answer

What does a judge consider when conducting a rule-of-reason analysis?

Correct AnswerverifiedWhen engaging in rule-of-reason analysis...View AnswerShow Answer

Section 2 of the Sherman Act applies to states,and they may be used as defendants.

Correct AnswerverifiedShow Answer

A business arrangement in which stock owners appoint beneficiaries and place their securities with trustees who manage the company and pay a share of their earnings to the stockholders is referred to as a trust.

Correct AnswerverifiedShow Answer

A merger between two or more companies producing the same or similar products is a ______ merger.

Correct AnswerverifiedShow Answer

Which of the following is not a factor taken into consideration under the rule-of-reason analysis?

Correct AnswerverifiedShow Answer

The Sherman Act attempts to stop trusts from unfairly restricting market competition.

Correct AnswerverifiedShow Answer

Set forth and describe the three specific types of injuries under the Robinson-Patman Act.

Correct AnswerverifiedThe three specific types of injuries are...View AnswerShow Answer

Which of the following is false regarding antitrust law in Japan?

Correct AnswerverifiedShow Answer

The agreements between Shirley and sellers to the effect that the stores would only carry Shirley's gear are ______ contracts.

Correct AnswerverifiedShow Answer

Which of the following is false regarding enforcement of the Sherman Act?

Correct AnswerverifiedShow Answer

Which of the following is not an example of a horizontal restraint of trade?

Correct AnswerverifiedShow Answer

Which of the following is false regarding groups and activities that are exempt from antitrust law?

Correct AnswerverifiedShow Answer

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When engaging in rule-of-reason analysis...
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The three specific types of injuries are...
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