question
Unfair competition controlled by
answer
A. Statutes
B. Administrative Agencies
C. Administrative Regulations
D. All The Above
B. Administrative Agencies
C. Administrative Regulations
D. All The Above
question
Price regulations
answer
A. May be imposed by the national government
B. May be imposed by state government
C. Include rules regarding credit terms and other changes
D. All The Above
B. May be imposed by state government
C. Include rules regarding credit terms and other changes
D. All The Above
question
What crime is a person who attempts to monopolize any part of trade or commerce guilty of?
answer
Felony.
question
What is market power?
answer
Ability to control price and exclude competitors.
question
Which section of the Sherman Act applies to agreements, conduct, or conspiracies to restrain trade?
answer
Section I.
question
The Sherman Act applies to
answer
A. Buying activities
B. Selling activities
C. Production activities
D. All The Above
B. Selling activities
C. Production activities
D. All The Above
question
What is a divestiture order?
answer
A decision by a court requiring a defendant to sell an enterprise.
question
Under Clayton Act, who must companies that want to merge notify?
answer
The anti-trust division of the Department of Justice.
question
What does the Clayton Act prohibit?
answer
Price discrimination between buyers of like commodities,
question
What does the Robinson Patman Act prohibit?
answer
Charging different prices to different buyers when the margin costs are the same.
question
What is tying?
answer
Tying occurs when sellers require buyers to purchase an unwanted product to get a wanted one.
question
Is tying a violation of the Sherman Act?
answer
Yes.
question
What are vertical mergers?
answer
Occur between firms that have buyer/seller relationships.
question
Offering one buyer free advertising while not offering it to another as an incentive to buy would be a violation of which act?
answer
Robinson Patman Act.
question
What is an administrative agency?
answer
A government body charged with administering and implementing legislation.
question
What are administrative agencies charged with doing?
answer
Making rules/ Conducting inspections/ Judge violations.
question
Are administrative agencies subject to strict procedural rules?
answer
Yes.
question
What does the Freedom of Information Act provide?
answer
Info contained in records of administrative agencies is available to citizens upon request.
question
In which three ways does the public have access to the activity of administrative agencies?
answer
Open records/ Open meetings/ Public announcements
question
What is the Administrative Procedure Act?
answer
Federal law that establishes the operating rules for Administrative Agencies.
question
What does the Sunshine Act require?
answer
Most meetings of major administrative agencies have to be open to the public.
question
What does a federal agency planning to adopt a new regulations have to do in terms of notice?
answer
Public notice and hold a hearing so the public can comment.
question
How often does the Federal Register list all administrative regulations?
answer
5 days a week.
question
What is a consent decree?
answer
Informal settlement of enforcement actions brought by agencies.
question
What is exhaustion of remedies?
answer
Before an appeal can be taken to a court concerning deter of an agency, all administrative remedies must be exhauster.
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