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Exam 13: Antitrust and Regulation

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Question 71

Multiple Choice

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Which of the following is an amendment to the Clayton Act that strengthened it against price discrimination?

A) The Sherman Antitrust Act.
B) The Federal Trade Commission Act.
C) The Robinson-Patman Act.
D) The Celler-Kefauver Act.

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Question 72

Multiple Choice

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An exclusive contract:

A) makes it illegal to price discriminate.
B) requires a buyer to purchase all products from a specified supplier.
C) requires a buyer not to purchase any requirements from the competitor of a specified supplier.
D) requires the buyer to purchase a second product as a condition of receiving the one he wants.
E) requires a seller to market its product within a limited geographic territory.

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Question 73

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IBM and Sara Lee are two of the biggest firms in the United States, but they produce different products. Could they legally merge, or would their merger be struck down by the courts?

If two or more firms combine or conspire to monopolize trade, this would be in violation of the:

Competitive firms X, Y, and Z meet in secret and agree to charge the same price. The U.S. Justice Department discovers this agreement and would most likely file charges under the:

During the first phase of regulation in the United States (from 1887 to the Great Depression) , the primary target of regulation was the:

The antitrust legislation that was designed to help small stores survive competition with large retail chains was the:

The Sherman Antitrust Act:

The per se rule was an antitrust law guideline that emphasized ____ over ____.

The Federal Trade Commission (FTC) was established to investigate unfair and deceptive business practices.

The Celler-Kefauver Act made it illegal to:

A conspiracy among firms to fix prices was outlawed by the Sherman Antitrust Act.

A merger between an auto manufacturer and a steel mill would result in which of the following?

Interlocking directorates are illegal under the ____ whether or not the effect may be to substantially lessen competition.

Being too big a firm can be a per se violation of antitrust laws.

A retailer cannot sell Campbell Soup if it also sells other brands of soup. This is an example of:

If Microsoft merges with retail stores and computer makers, such that competition is substantially reduced, it would be in violation of the:

You are the mayor of your home town, and one day you arrive at city hall to find angry voters demonstrating against you. They are mad because your office created a garbage-collection monopoly by awarding only one company a permit to collect garbage in your town. The voters claim that the company is overcharging and providing poor service. They want you to do something that will lower rates and improve service. You call your staff economist, who presents evidence that there are substantial economies of scale to garbage collection. What are your options if you are interested in efficiency?

Price discrimination that substantially lessens competition is prohibited by the Clayton Act.

The Sherman Antitrust Act was passed in: