Question 1
0.5 out of 0.5 points
A restraint of trade is an agreement between firms that has the effect of reducing competition in the marketplace.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 2
0 out of 0.5 points
When applying the rule of reason to determine whether an agreement violates Section 1 of the Sherman Act, a court will not consider
Selected Answer:
Incorrect the parties' market ability to implement the agreement.
Correct Answer:
Correct the effect of the agreement on international trade.
Question 3
0 out of 0.5 points
An act must substantially affect interstate commerce to violate antitrust law.
Selected Answer:
Incorrect False
Correct Answer:
Correct True
Question 4
0.5 out of 0.5 points
Gulf Air, Inc., is the major wholesale distributor of software in the state of Florida. Its closest competitor is Fluid Systems Company, another Florida firm. The two firms agree that Gulf Air will operate in south Florida and Fluid Systems will operate in north Florida. This is
Selected Answer:
Correct a market division.
Correct Answer:
Correct a market division.
Question 5
0 out of 0.5 points
Edgy Engine Components, Inc., a maker of vehicle parts, refuses to sell to Fidgety Fix-It, Inc., a national vehicle service firm. Edgy Engine convinces Greasy Motor Parts Company, a competitor, to do the same. This is
Selected Answer:
Incorrect a market division.
Correct Answer:
Correct a group boycott.
Question 6
0.5 out of 0.5 points
A price-fixing agreement that is reasonable does not violate antitrust law.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 7
0.5 out of 0.5 points
Fact Pattern 19-1
Cardio, Inc., makes and sells Drawdown, the most prescribed name-brand heart medication. Emitate Corporation has the potential to make a generic version of the same drug.

Refer to Fact Pattern 19-1. Cardio pays Emitate not to sell its product. This is
Selected Answer:
Correct a price-fixing agreement.
Correct Answer:
Correct a price-fixing agreement.
Question 8
0.5 out of 0.5 points
A group boycott is not a per se violation.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 9
0.5 out of 0.5 points
Antitrust legislation was created because of the belief that competition leads to lower prices.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 10
0.5 out of 0.5 points
The basic purpose of antitrust law is to regulate economic competition.
Selected Answer:
Correct True
Correct Answer:
Correct True
Wednesday, March 11, 2015 11:05:09 PM PDT
Question 1
0.5 out of 0.5 points
Thermo Gas, Inc., and Uno Oil Corporation refine and sell gasoline and other petroleum products. To limit the supply of gas on the market and thereby raise prices, Thermo and Uno agree to buy "excess" supplies from dealers and "dispose" of it. This is
Selected Answer:
Correct a per se violation of the Sherman Act.
Correct Answer:
Correct a per se violation of the Sherman Act.
Question 2
0.5 out of 0.5 points
Antitrust legislation was created because of the belief that competition leads to lower prices.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 3
0 out of 0.5 points
An agreement that is deemed a per se violation will be examined by a court to determine whether the agreement's benefits outweigh its anticompetitive effects.
Selected Answer:
Incorrect True
Correct Answer:
Correct False
Question 4
0.5 out of 0.5 points
A price-fixing agreement that is reasonable does not violate antitrust law.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 5
0.5 out of 0.5 points
A restraint of trade is an agreement between firms that has the effect of reducing competition in the marketplace.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 6
0.5 out of 0.5 points
North Mining Company and South Excavation Company agree to abide by the decisions of East Coast Financial Corporation as to their respective levels of production, markets, and prices, effectively reducing competition and increasing profits. This is most likely
Selected Answer:
Correct an illegal restraint on trade.
Correct Answer:
Correct an illegal restraint on trade.
Question 7
0.5 out of 0.5 points
A market division by class of customer between rival firms violates antitrust law.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 8
0.5 out of 0.5 points
A group boycott is not a per se violation.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 9
0.5 out of 0.5 points
The basic purpose of antitrust law is to regulate economic competition.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 10
0.5 out of 0.5 points
The Sherman Act, the Clayton Act and the Federal Trade Commission Act are all examples of legislation designed to curb anticompetitive business practices.
Selected Answer:
Correct True
Correct Answer:
Correct True
Wednesday, March 11, 2015 11:38:37 PM PDT
Question 1
0.5 out of 0.5 points
A group boycott is not a per se violation.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 2
0.5 out of 0.5 points
The Sherman Act, the Clayton Act and the Federal Trade Commission Act are all examples of legislation designed to curb anticompetitive business practices.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 3
0.5 out of 0.5 points
A restraint of trade is an agreement between firms that has the effect of reducing competition in the marketplace.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 4
0.5 out of 0.5 points
Gulf Air, Inc., is the major wholesale distributor of software in the state of Florida. Its closest competitor is Fluid Systems Company, another Florida firm. The two firms agree that Gulf Air will operate in south Florida and Fluid Systems will operate in north Florida. This is
Selected Answer:
Correct a market division.
Correct Answer:
Correct a market division.
Question 5
0 out of 0.5 points
Thermo Gas, Inc., and Uno Oil Corporation refine and sell gasoline and other petroleum products. To limit the supply of gas on the market and thereby raise prices, Thermo and Uno agree to buy "excess" supplies from dealers and "dispose" of it. This is
Selected Answer:
Incorrect a legal restraint of trade.
Correct Answer:
Correct a per se violation of the Sherman Act.
Question 6
0.5 out of 0.5 points
A market division by class of customer between rival firms violates antitrust law.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 7
0.5 out of 0.5 points
Fact Pattern 19-1
Cardio, Inc., makes and sells Drawdown, the most prescribed name-brand heart medication. Emitate Corporation has the potential to make a generic version of the same drug.

Refer to Fact Pattern 19-1. Cardio pays Emitate not to sell its product. This is
Selected Answer:
Correct a price-fixing agreement.
Correct Answer:
Correct a price-fixing agreement.
Question 8
0 out of 0.5 points
A court deems an agreement between Silver Saddles Saddlery and Time Tested Tack, Inc. to be a per se violation of the Sherman Act. The court is
Selected Answer:
Incorrect required to apply the rule of reason.
Correct Answer:
Correct prevented from determining whether the agreement's benefits outweigh its anticompetitive effects.
Question 9
0.5 out of 0.5 points
North Mining Company and South Excavation Company agree to abide by the decisions of East Coast Financial Corporation as to their respective levels of production, markets, and prices, effectively reducing competition and increasing profits. This is most likely
Selected Answer:
Correct an illegal restraint on trade.
Correct Answer:
Correct an illegal restraint on trade.
Question 10
0.5 out of 0.5 points
Antitrust legislation was created because of the belief that competition leads to lower prices.
Selected Answer:
Correct True
Correct Answer:
Correct True
Wednesday, March 11, 2015 11:39:13 PM PDT
Question 1
0.5 out of 0.5 points
A price-fixing agreement is an agreement by two or more sellers to boycott a particular person or firm.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 2
0.5 out of 0.5 points
Congress enacts a statute to outlaw a specific type of anticompetitive business agreement. Like other laws that regulate economic competition, this law is referred to as
Selected Answer:
Correct an antitrust law.
Correct Answer:
Correct an antitrust law.
Question 3
0.5 out of 0.5 points
Fact Pattern 19-1
Cardio, Inc., makes and sells Drawdown, the most prescribed name-brand heart medication. Emitate Corporation has the potential to make a generic version of the same drug.

Refer to Fact Pattern 19-1. Cardio pays Emitate not to sell its product. This is
Selected Answer:
Correct a price-fixing agreement.
Correct Answer:
Correct a price-fixing agreement.
Question 4
0.5 out of 0.5 points
Edgy Engine Components, Inc., a maker of vehicle parts, refuses to sell to Fidgety Fix-It, Inc., a national vehicle service firm. Edgy Engine convinces Greasy Motor Parts Company, a competitor, to do the same. This is
Selected Answer:
Correct a group boycott.
Correct Answer:
Correct a group boycott.
Question 5
0.5 out of 0.5 points
A group boycott is not a per se violation.
Selected Answer:
Correct False
Correct Answer:
Correct False
Question 6
0.5 out of 0.5 points
The basic purpose of antitrust law is to regulate economic competition.
Selected Answer:
Correct True
Correct Answer:
Correct True
Question 7
0.5 out of 0.5 points
To fall under the Sherman Act, an activity must
Selected Answer:
Correct substantially affect interstate commerce.
Correct Answer:
Correct substantially affect interstate commerce.
Question 8
0.5 out of 0.5 points
Thermo Gas, Inc., and Uno Oil Corporation refine and sell gasoline and other petroleum products. To limit the supply of gas on the market and thereby raise prices, Thermo and Uno agree to buy "excess" supplies from dealers and "dispose" of it. This is
Selected Answer:
Correct a per se violation of the Sherman Act.
Correct Answer:
Correct a per se violation of the Sherman Act.
Question 9
0.5 out of 0.5 points
When applying the rule of reason to determine whether an agreement violates Section 1 of the Sherman Act, a court will not consider
Selected Answer:
Correct the effect of the agreement on international trade.
Correct Answer:
Correct the effect of the agreement on international trade.
Question 10
0.5 out of 0.5 points
Gulf Air, Inc., is the major wholesale distributor of software in the state of Florida. Its closest competitor is Fluid Systems Company, another Florida firm. The two firms agree that Gulf Air will operate in south Florida and Fluid Systems will operate in north Florida. This is
Selected Answer:
Correct a market division.
Correct Answer:
Correct a market division.
Wednesday, March 11, 2015 11:43:39 PM PDT