Session:11 Antitrust Law
Assessment Questions
Business Law I Essentials | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/business-law-i-essentials
1. All of the following are forms of restraint of trade that company might use to reduce competition except:
- Monopolies.
- Oversupply.
- Price-fixing.
- Mergers.
4. What was the first antitrust law enacted?.
- The Clayton Act.
- The Federal Trade Commission Act.
- The Antitrust Act.
- The Sherman Act.
6. What recourse does the FTC have if an individual or company engages in an unfair trade practice?
- Consent order.
- Administrative complaint.
- Litigation.
- All of the above.
7. Each state has its own Antitrust law.
- True.
- Fasle.
8. Which of the following is not prohibited by the Sherman Act?
- Temporary limited restraints.
- Temporary restraints.
- Naked restraints.
- Ancillary restraints.
9. Which of the following are possible penalties for violation of the Sherman Act?
- Up to $100 million for corporations and individuals.
- Up to $100 million for individuals.
- Up to $100 millions for corporations.
- None of these are correct.
10. Which of the following are considered illegal by the Clayton Act?
- Price discrimination.
- Exclusive dealing contracts.
- Corporate mergers.
- All of the above.
11. The following are exempt from antitrust laws:
- Small businesses.
- Coops.
- Labor unions.
- Agriculture groups even if they engage in restraint of trade.
12. When was the Federal Trade Commission established?
- 1912.
- 1914.
- 1916.
- 1920.
13. The following are bureaus of the Federal Trade Commission except:
- Bureau of Unfair Trade Practices.
- Bureau of Consumer Protection.
- Bureau of Competition.
- Bureau Economics.