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1.
(p. 1036)
A business arrangement in which stock owners appoint beneficiaries and place their
securities with trustees who manage the company and pay a share of their earnings to the
stockholders is referred to as a trust.
2.
(p. 1042)
In enacting the Sherman Act, Congress did not specify which specific behaviors were
prohibited.
3.
(p. 1041)
Farmers are prohibited by antitrust laws from belonging to cooperatives that set prices.
4.
(p. 1042)
The Sherman Act attempts to stop trusts from unfairly restricting market competition.
5.
(p. 1042)
The Sherman Act may not be constitutionally applied to foreign companies that conduct
business in the U.S.
6.
(p. 1045)
Bid rigging is legal because it has recently been removed from the category of price-
fixing.
7.
(p. 1047)
Group boycotts by which two or more competing sellers refuse to sell their products to a
certain customer are generally per se violations of the Sherman Act.
8.
(p. 1048)
Section 2 of the Sherman Act prohibits all monopolies.
9.
(p. 1051)
Section 2 of the Sherman Act applies to states, and they may be used as defendants.
10.
(p. 1056)
The Federal Trade Commission has been eliminated.
11.
(p. 1038)
Which of the following was the result on appeal in
California v. Safeway
, the case in the
text involving whether an agreement between grocers to share revenues during the term of a
labor dispute violated antitrust laws?
12.
(p. 1049)
Which of the following was the result in
PepsiCo Inc., v. The Coca-Cola Co.
, the case in
the text in which PepsiCo challenged Coca-Cola's loyalty policy by which independent food
distributors (IFDs) agreed to not handle soft drink products of PepsiCo?
13.
(p. 1052)
Which of the following was the result on appeal in
Spirit Airlines Inc., v. Northwest
Airlines Inc.
, the case in the text in which Spirit Airlines claimed that Northwest Airlines lowered
its prices on certain flights once Spirit Airlines began to compete?
14.
(p. 1057)
Which of the following was the result of the claim of the U.S. Department of Justice that
Microsoft Corporation violated Sections 1 and 2 of the Sherman Act?
15.
(p. 1036)
When was the Interstate Commerce Act passed?
16.
(p. 1036)
When was the Sherman Act enacted?
17.
(p. 1037)
Chicago School theorists argue that the central, and perhaps only, purpose of antitrust
law is to encourage economic ____.
18.
(p. 1041)
Which of the following is
false
regarding groups and activities that are exempt from
antitrust law?
19.
(p. 1057)
Which of the following is
false
regarding enforcement of the Sherman Act?
20.
(p. 1043)
Which of the following is
false
regarding antitrust law in Japan?
21.
(p. 1042)
By what U.S. Constitutional authority did Congress pass the Sherman Act?
22.
(p. 1043)
Which of the following is an inquiry into the competitive effects of a company's behavior
to determine whether the benefits of the behavior outweigh the harm of the anticompetitive
behavior?
23.
(p. 1043)
Which of the following is the type of violation of Section 1 of the Sherman Act that is
involved when it is determined that business practices always hurt consumers?
24.
(p. 1044)
Which of the following standards allows a defendant to offer justification for a per se
violation of Section 1 of the Sherman Act, in which case the court will engage in a rule-of-reason
analysis?
25.
(p. 1045)
Which of the following is
not
an example of a horizontal restraint of trade?
26.
(p. 1046)
When two parties at different levels in the manufacturing and distribution process make
an agreement that restrains trade, they have made a ______ restraint against trade.
27.
(p. 1046)
Which analysis, if any, is applied to territorial and customer restrictions imposed by a
manufacturer on a retailer?
