Question

A powerful administrative agency charged specifically with protecting consumers against deceptive practices and enforcing antitrust laws is which of the following?

a.              Department of Labor

b.              Fair Trade Administration

c.              Ways and Means Committee

d.              Federal Trade Commission

When a manufacturer and its wholesalers limit their ability to market their product, the parties have which type of arrangement?

a.              Vertical group boycott

b.              Vertical division of the market

c.              Price fixing agreement

d.              Horizontal group boycott

Which of the following believes that the primary goal of antitrust laws should be to protect competitors?

a.              Harvard School

b.              Progressive School

c.              Traditional School

d.              Chicago School

The primary goal of antitrust laws should be to promote competition is part of which school’s theory?

a.              Progressive School

b.              Traditional School

c.              Chicago School

d.              Harvard School

Federal antitrust law exemptions do not apply to which of the following?

a.              Joint export activities

b.              Labor unions

c.              Heavily regulated industries such as insurance and utilities.

d.              All professional sports teams that are members of organized leagues

Which of the following may initiate criminal prosecutions of violations of the Sherman Act as felonies?

a.              Federal Bureau of Investigation

b.              Department of the Interior

c.              Department of Justice

d.              Office of the States Attorney

Answer 1