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Question 1 10 points Save The primary source of the antitrust laws is: the United States Constitution the Uniform Commercial Code the Federal Trade

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Question 1 10 points Save The primary source of the antitrust laws is: the United States Constitution the Uniform Commercial Code the Federal Trade Commission Federal Statutes common law Question 2 10 points Save Which of the following is not one of the antitrust statutes? the Sherman Act the Clayton Act the Federal Trade Commission Act the Fair Competition Regulation Act the Robinson-Patman Act Question 3 10 points Save The antitrust laws were passed in response to general changes in the national business environment caused by: the United States gaining independence from England the expansion of the United States west of the Mississippi River following the Louisiana Purchase the rise of the railroads and industrialization in the latter part of the 1800s the stock market crash of 1929 and the Great Depression the rapid boom in consumer products following the Second World War Question 4 10 points Save The maximum fines, per violation, that can be imposed in a Sherman Act criminal case are: $1 million for an individual and $10 million for a corporation $10 million for both individuals and corporations $10 million for a corporation and $350,000 for an individual $3.5 million for a corporation and $350,000 for an individual $1 million for an individual and $3 million for a corporation Question 5 10 points Save What is the usual effect of a nolo contendere plea by the defendant in a
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government antitrust case? A penalty imposed on the defendant without an admission of guilt. A penalty imposed on the defendant without an admission of guilt and automatic liability to any private plaintiffs in related cases. A requirement that a defendant cease business in the line of business or market where the violation occurred. An admission of guilt accompanied by a lighter penalty than if a verdict of guilty were issued following a trial. No penalty in the current case, but an increased penalty for any similar future violation. Question 6 10 points Save Which of the following is true about restraints of trade? Under the per se rules, all restraints of trade are illegal. Under the rule of reason, all restraints of trade are illegal. Some acts are illegal per se , but other actions must be judged by the rule of reason. Price-fixing is always judged by the rule of reason. Tying agreements are always illegal per se . Question 7 10 points Save What is the legal significance of the distinction between rule of reason violations and per se violations under the Sherman Act? Rule of reason violations must be proven beyond a reasonable doubt, and per se violations must be proven with a preponderance of the evidence. Rule of reason violations require an agreement with at least one other party, but per se violations can occur without an agreement with others. Rule of reason violations relate to horizontal situations, and per se violations relate to vertical situations. Rule of reason violations relate to actions brought by private parties, and per se violations relate to actions brought by the government. Rule of reason violations might be proven to be acceptable, but per se violations cannot be acceptable under any circumstances. Question 8 10 points Save Horizontal price-fixing occurs when: one or more companies charge the same prices for goods at all their stores for an unreasonable length of time a manufacturer requires its independent dealers to sell its products at a given price
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