#1
What is the primary goal of antitrust laws?
To promote competition and prevent monopolistic behavior
To protect consumers from low-quality products
To enforce taxation on large corporations
To control international trade agreements
#2
What is the primary enforcement agency responsible for enforcing antitrust laws in the United States?
Department of Justice (DOJ)
Federal Reserve System (FRS)
Securities and Exchange Commission (SEC)
Environmental Protection Agency (EPA)
#3
What is the term used to describe an agreement between competitors to fix prices or divide markets?
Collusion
Competition
Innovation
Monopoly
#4
What is the main purpose of antitrust enforcement agencies conducting investigations?
To determine if a company is guilty of an antitrust violation
To support companies in monopolizing markets
To prevent competition in the market
To increase consumer prices
#5
What is the term used to describe a market structure where there is only one seller with significant control over supply and prices?
Oligopoly
Monopoly
Perfect competition
Monopsony
#6
What is the term for a market structure characterized by a small number of large firms dominating the market?
Monopoly
Oligopoly
Perfect competition
Monopsony
#7
Which of the following is an example of a company that faced antitrust action due to monopolistic practices?
Apple
Microsoft
Google
All of the above
#8
Which of the following is NOT a major U.S. antitrust law?
Sherman Antitrust Act
Clayton Antitrust Act
Federal Trade Commission Act
Consumer Protection Act
#9
Which of the following is NOT a type of antitrust violation?
Price fixing
Monopolization
Product development
Market allocation
#10
Which U.S. antitrust law specifically addresses mergers and acquisitions?
Sherman Antitrust Act
Clayton Antitrust Act
Federal Trade Commission Act
Hart-Scott-Rodino Antitrust Improvements Act
#11
Which of the following is NOT a potential remedy for antitrust violations?
Divestiture
Civil penalties
Criminal prosecution
Tax exemptions
#12
Which antitrust law prohibits agreements, conspiracies, or combinations in restraint of trade?
Sherman Antitrust Act
Clayton Antitrust Act
Federal Trade Commission Act
Robinson-Patman Act
#13
Which of the following actions would likely violate antitrust laws?
A company offering loyalty discounts to its frequent customers
Competitors sharing pricing information to ensure fair competition
A group of companies colluding to fix prices in the market
A company acquiring a small startup to expand its product line
#14
What is the 'essential facilities doctrine' in antitrust law?
A doctrine that allows companies to keep essential facilities exclusive to themselves
A doctrine that mandates companies to share essential facilities with competitors
A doctrine that prohibits companies from owning essential facilities
A doctrine that allows companies to exploit essential facilities without regulation
#15
What is predatory pricing in the context of antitrust law?
Setting prices higher than competitors to gain market share
Selling products below cost to drive competitors out of the market
Agreeing with competitors to maintain high prices
Acquiring a competitor to eliminate competition
#16
What is market foreclosure in the context of antitrust law?
An agreement between competitors to limit consumer choices
A strategy to restrict competitors' access to necessary inputs or distribution channels
Selling products at below-cost prices to drive competitors out of the market
Exploiting market power to raise prices and restrict output
#17
What is the term for a situation where a firm uses its market power in one market to gain an advantage in another market?
Market leveraging
Tying arrangement
Predatory pricing
Vertical integration
#18
What is the term for a situation where a company sells a product or service below its cost to drive competitors out of the market, with the intention of raising prices later?
Dumping
Cartelization
Collusion
Exclusive dealing