Q&A Hero

Law

Q: A unilateral refusal to deal is a violation of Section 1 of the Sherman Act because there is a concerted action with others.
Q: The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by using the rule of reason.
Q: The setting of minimum resale prices is a rule of reason violation of Section 1 of the Sherman Act.
Q: Division of markets is considered to be a type of horizontal restraint of trade.
Q: Group boycotts can be either a per se violation or rule of reason violation.
Q: Competitors who agree that each will serve only a designated portion of the market are deemed to be engaging in a group boycott.
Q: The fact that price fixing helps consumers or protects competitors from ruinous competition can be used as a valid defense against the charge of price discrimination.
Q: Only price fixing conducted by sellers is considered a violation of Section 1 of the Sherman Act.
Q: Price fixing is a rule of reason violation of Section 1 of the Sherman Act.
Q: Restraints that are not characterized as per se violations are not further examined using the rule of reason.
Q: The per se rule is applicable to restraints of trade that are considered inherently anticompetitive.
Q: A relevant market is characterized by the presence of ________. A) unique goods and services B) reasonably interchangeable goods and services C) highly differentiated goods and services D) pure monopoly of the defendant's goods and products
Q: Which of the following is the rationale behind the Noerr doctrine? A) state statutory law B) the Uniform Commercial Code (UCC) C) Article I of the U.S. Constitution D) the Bill of Rights
Q: ________ is an antitrust principle which says that two or more persons can petition the executive, legislative, or judicial branch of the government or administrative agencies to enact laws or take other action without violating antitrust laws. A) The Noerr doctrine B) The Colgate doctrine C) Nolo contendere D) The de minimis exemption
Q: Conscious parallelism occurs when ________. A) parties at different levels enter into an agreement to adhere to a price schedule that stabilizes prices B) one party makes an independent choice not to deal with another C) two or more firms act the same but no concerted action is shown D) a party's anticompetitive effects outweigh its procompetitive effects
Q: Which of the following is true of the Colgate doctrine? A) It is not a violation of Section 1 of the Sherman Act. B) It is an example of a horizontal restraint of trade. C) It is a per se violation of Section 1 of the Sherman Act. D) It is a rule of reason violation of Section 1 of the Sherman Act.
Q: ________ occurs when an independent choice is made by one party not to deal with another party. A) A non-price vertical restraint B) A monopoly to deal C) A unilateral refusal to deal D) Conscious parallelism
Q: The legality of nonprice vertical restraints of trade under Section 1 of the Sherman Act is examined by applying the ________. A) Colgate doctrine B) Noerr doctrine C) per se rule D) rule of reason
Q: Restraints of trade that are unlawful under Section 1 of the Sherman Act only if their anticompetitive effects outweigh their procompetitive effects are known as ________. A) nonprice vertical restraints B) group boycotts C) division of markets D) the setting of minimum resale prices
Q: A per se violation of Section 1 of the Sherman Act that occurs when a party at one level of distribution enters into an agreement with a party at another level to adhere to a price schedule that either sets or stabilizes prices is referred to as ________. A) group boycotts B) horizontal price fixing C) resale price maintenance D) nonprice vertical restraints
Q: Which of the following is an example of a vertical restraint of trade? A) group boycott B) price fixing C) resale price maintenance D) division of markets
Q: Which of the following is an example of a horizontal restraint of trade? A) resale price maintenance B) division of markets C) unilateral refusal to deal D) conscious parallelism
Q: 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 ________. A) group boycott B) resale price maintenance C) price fixing D) market sharing
Q: Which of the following horizontal restraints of trade has the element of monopoly in it? A) conscious parallelism B) market sharing C) group boycott D) exchange of nonprice information
Q: ________ is a restraint of trade in which competitors agree that each will serve only a designated portion of the market. A) Resale market price maintenance B) Profit sharing C) Market sharing D) Gain sharing
Q: Which of the following is true of price fixing? A) It is a reasonable violation of Section 1 of the Sherman Act. B) It is a process seen exclusively among sellers of goods and services. C) It is permissible as it helps consumers or protects competitors from ruinous competition. D) It includes fixing the quantity of a product or service to be produced or provided.
Q: Three of the largest petroleum refineries in the country have come to an agreement about what price they would pay to purchase crude oil from sellers. This is an example of the ________. A) sellers' illegal per se price fixing B) sellers' illegal group boycott C) buyers' illegal per se price fixing D) buyers' illegal market sharing
Q: Price fixing is a ________ violation of Section 1 of the Sherman Act. A) reasonable B) per se C) justifiable D) permissible
Q: The rule of reason is characterized by ________. 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 relevant factors
Q: Which of the following is true of the per se rule in restraint of trade? A) It fails to permit any defenses and justifications to save the restraint of trade. B) It applies only to restraints that are found to be unreasonable with certain evidentiary standards being met. C) It applies to restraints that are based primarily on the firm's market share and power. D) It requires a balancing of the positive and negative effects of the challenged restraint.
Q: The ________ is a rule that is applicable to restraints of trade considered inherently anticompetitive. A) consent decree B) Noerr doctrine C) per se rule D) rule of reason
Q: Under the ________, the court must examine the pro- and anticompetitive effects of a challenged restraint. A) Noerr doctrine B) rule of reason C) per se rule D) consent decree
Q: The two tests the U.S. Supreme Court has developed for determining the lawfulness of a restraint are the rule of reason and the ________. A) Noerr doctrine B) per se rule C) nolo contendere rule D) Colgate doctrine
Q: Under ________ of the Clayton Act, any person who suffers antitrust injury in his or her business or property can bring a private civil action against the offenders.
Q: The ________ is a federal statute, enacted in 1914, that regulates mergers and prohibits certain exclusive dealing arrangements.
Q: Federal ________ law comprises several major statutes that prohibit certain anticompetitive and monopolistic practices.
Q: Antitrust defendants often opt to settle government-brought antitrust actions by entering a plea of nolo contendere.
Q: The Federal Trade Commission (FTC) Act can be used to recover treble damages.
Q: Private parties cannot intervene in public antitrust actions brought by the government.
Q: Treble damages cannot be sought for the violation of antitrust laws.
Q: The Sherman Act is the only major antitrust act that includes criminal sanctions.
Q: The Robinson-Patman Act is a federal statute that makes it mandatory to provide a notification prior to a merger.
Q: The Clayton Act, enacted in 1914, regulates mergers and prohibits certain exclusive dealing arrangements.
Q: Government enforcement of federal antitrust laws is divided between the Antitrust Division of the Department of Justice and the Bureau of Competition of the Federal Trade Commission.
Q: Federal antitrust laws provide only for government lawsuits.
Q: The antitrust laws were enacted to promote anticompetitive behavior in commerce and industry.
Q: A(n) ________ is a type of plea where the defendant pays a penalty without admission of guilt. A) nolo contendere B) arraignment C) indictment D) plea bargain
Q: 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. A) three B) two C) five D) four
Q: ________ damages are the only damages that may be recovered for violations of the Federal Trade Commission (FTC) Act. A) Treble B) Double C) Potential D) Actual
Q: Which of the following is considered an invalid antitrust injury? A) lost profits B) an increase in the cost of doing business C) injury resulting from higher prices being "passed on" D) a decrease in the value of tangible or intangible property caused by the antitrust violation
Q: Which of the following is the only act that includes criminal sanctions for unfair trade practices? A) the Clayton Act B) the Sherman Act C) the Robinson-Patman Act D) the Federal Trade Commission Act
Q: The ________ is a federal statute, enacted in 1890, that makes certain restraints of trade and monopolistic acts illegal. A) Federal Trade Commission Act B) Robinson-Patman Act C) Clayton Act D) Sherman Act
Q: The ________ is a federal statute, enacted in 1930, that prohibits price discrimination. A) Sherman Act B) Clayton Act C) Robinson-Patman Act D) Federal Trade Commission Act
Q: The ________ is a federal statute, enacted in 1914, that regulates mergers and prohibits certain exclusive dealing arrangements. A) Sherman Act B) Celler-Kefauver Act C) Robinson-Patman Act D) Clayton Act
Q: Which of the following is true of antitrust laws? A) Antitrust laws are fixed and unchangeable. B) Private parties cannot intervene in public antitrust actions brought by the government. C) Federal antitrust laws provide for government lawsuits and exclude private lawsuits from their purview. D) Treble damages cannot be sought in antitrust lawsuits.
Q: ________ laws 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. A) Contract B) Antitrust C) Laissez-faire D) Canon
Q: List the major federal statutes that regulate the labor-management relationship, along with their respective provisions.
Q: The group that a union is seeking to represent is called the ________ unit, and it must be defined before the union can petition for an election.
Q: Decertification elections must be supervised by the ________.
Q: If employees no longer want to be represented by a union, a(n) ________ election is held.
Q: Enacted in 1932, the ________ is a federal statute which stipulates that it is legal for employees to organize.
Q: John L. Lewis formed the ________ in 1935, which permitted semiskilled and unskilled workers to be its members.
Q: The ________ was formed in 1886, under the leadership of Samuel Gompers. Only skilled craft workers such as silversmiths and artisans were allowed to belong.
Q: The ________ Act gives the president of the United States the right to seek an injunction (for up to 80 days) against a strike that would create a national emergency.
Q: The inaccessibility exception is a rule that permits employees and union officials to engage in union solicitation on company property if the employees are beyond the reach of reasonable union efforts to communicate with them.
Q: An employer is permitted to bar off-duty employees from union solicitation on company premises.
Q: A decertification election is held when an employer does not want the presence of multiple unions in the organization.
Q: The NLRB is required to supervise all consent elections.
Q: To certify a union, more than 50 percent of the employees must vote for establishing the union.
Q: Managers and professional employees cannot belong to unions formed by employees they manage.
Q: An appropriate bargaining unit must consist of employees from a single company.
Q: A group of employees that a union is seeking to represent in known as an appropriate bargaining unit.
Q: Section 7 of the NLRA is a federal law that gives employers the right to terminate union practices detrimental to the organization.
Q: The NLRB oversees union elections and prevents employers and unions from engaging in illegal and unfair labor practices.
Q: The Labor Management Reporting and Disclosure Act, enacted in 1950, gives employers the right to engage in free speech efforts against unions prior to a union election.
Q: The Taft-Hartley Act gives the president of the United States the right to seek an injunction against a strike that would create a national emergency.
Q: The National Labor Relations Act (NLRA) establishes the right of employers to terminate the employment of members of unions whose continued picketing hinders the progress of the business.
Q: The Norris-LaGuardia Act is a federal statute which stipulates that it is legal for employees to organize.
Q: Individual unions are not allowed to join AFL-CIO; the members need to be individual employees.
Q: Unskilled and semiskilled workers did not qualify as members of the CIO.
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