cheeseman_buslaw7_tif_46

cheeseman_buslaw7_tif_46 - 46 ANTITRUSTLAWANDUNFAIR...

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1) The Robinson-Patman Act was the first antitrust law enacted in the United States. Answer: FALSE Diff: 2 Topic: Federal Antitrust Laws 2) The first antitrust laws were passed in the late 1800s. Answer: TRUE Diff: 1 Topic: Federal Antitrust Laws 3) The aggressiveness with which antitrust laws are enforced differs considerably based on the politics of the President of the United States. Answer: TRUE Diff: 1 Topic: Federal Antitrust Laws 4) Antitrust laws were designed to limit anticompetitive behavior. Answer: TRUE Diff: 1 Topic: Federal Antitrust Laws 5) Most of the major antitrust statutes provide for both civil and criminal penalties. Answer: FALSE Diff: 1 Topic: Federal Antitrust Laws 6) All federal criminal antitrust enforcement is done by the Justice Department. Answer: FALSE Diff: 1 Topic: Federal Antitrust Laws 225 ANTITRUST LAW AND UNFAIR  TRADE PRACTICES 46
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7) A consumer can recover from a violation of an antitrust law, but only if he or she deals directly with the violator. Answer: TRUE Diff: 1 Topic: Federal Antitrust Laws 8) Under the rule of reason for violations under the Sherman Act, certain restraints of trade can be legal in some circumstances and illegal in others. Answer: TRUE Diff: 1 Topic: Section 1 of the Sherman Act - Restraints of Trade 9) The Sherman Act is the only major antitrust act with criminal sanctions. Answer: TRUE Diff: 2 Topic: Section 1 of the Sherman Act - Restraints of Trade 10) A per se violation of the Sherman Act is illegal regardless of the circumstances in which the activity took place. Answer: TRUE Diff: 1 Topic: Section 1 of the Sherman Act - Restraints of Trade 11) A corporation may be fined up to $100 million per violation of the Sherman Act. Answer: FALSE Diff: 2 Topic: Section 1 of the Sherman Act - Restraints of Trade 12) Reasonable restraints of trade are lawful under the rule of reason. Answer: TRUE Diff: 1 Topic: Rule of Reason 13) The history and duration of the restraint have no impact on applying the rule of reason. Answer: FALSE Diff: 2 Topic: Rule of Reason 226
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14) A restraint that is automatically in violation of Section 1 of the Sherman Act is said to be a per se violation. Answer: TRUE Diff: 1 Topic: Rule of Reason 15) Under the Sherman Act, some horizontal price-fixing arrangements are allowed under the rule of reason. Answer: FALSE Diff: 1 Topic: Horizontal Restraints of Trade 16) Under the Sherman Antitrust Act, division of markets on a product line basis is a rule of reason violation, whereas division of markets on a geographic basis is a per se violation. Answer: FALSE Diff: 2 Topic: Horizontal Restraints of Trade 17) Horizontal price-fixing occurs when the competitors in the same type of business agree to set the price of goods or services they sell. Answer:
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This note was uploaded on 12/13/2011 for the course LAW LAW taught by Professor Ricks during the Spring '09 term at Rutgers.

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cheeseman_buslaw7_tif_46 - 46 ANTITRUSTLAWANDUNFAIR...

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