#1
Which legislation is the primary federal antitrust law in the United States?
The Sherman Antitrust Act
ExplanationThe Sherman Antitrust Act is the primary federal antitrust law aimed at preventing monopolistic practices and promoting fair competition.
#2
What is the goal of antitrust legislation?
To prevent monopolistic practices and promote fair competition
ExplanationAntitrust legislation aims to prevent monopolistic practices and promote fair competition in the market.
#3
Which president signed the Sherman Antitrust Act into law?
William Howard Taft
ExplanationWilliam Howard Taft signed the Sherman Antitrust Act into law.
#4
Which type of behavior does antitrust legislation aim to prevent?
Collusion
ExplanationAntitrust legislation aims to prevent collusion, where competitors conspire to manipulate the market.
#5
What is the purpose of the Clayton Antitrust Act?
To prohibit certain anti-competitive practices
ExplanationThe Clayton Antitrust Act is designed to prohibit specific anti-competitive practices in business.
#6
What is the 'rule of reason' regarding antitrust law?
It allows courts to assess whether a particular practice promotes or suppresses competition.
ExplanationThe 'rule of reason' in antitrust law enables courts to evaluate whether a practice enhances or stifles competition.
#7
What is the purpose of the Hart-Scott-Rodino Antitrust Improvements Act?
To prevent anti-competitive mergers and acquisitions
ExplanationThe Hart-Scott-Rodino Antitrust Improvements Act aims to prevent anti-competitive mergers and acquisitions.
#8
What is 'price fixing' in the context of antitrust law?
A practice where competitors agree to set prices artificially high or low.
Explanation'Price fixing' in antitrust law refers to competitors conspiring to set prices artificially high or low.
#9
What is the purpose of the Federal Trade Commission (FTC) in relation to antitrust enforcement?
To review mergers and acquisitions
ExplanationThe Federal Trade Commission (FTC) plays a role in antitrust enforcement by reviewing mergers and acquisitions.
#10
Which government agency enforces antitrust laws in the United States?
The Department of Justice
ExplanationThe Department of Justice is responsible for enforcing antitrust laws in the United States.
#11
Which landmark case established the 'rule of reason' approach in antitrust law?
Standard Oil Co. v. United States
ExplanationThe 'rule of reason' approach in antitrust law was established by the landmark case Standard Oil Co. v. United States.
#12
What is 'tying' in antitrust law?
A practice where a seller forces a buyer to purchase an unwanted product in order to get the desired product.
Explanation'Tying' in antitrust law involves a seller coercing a buyer to buy an unwanted product to obtain the desired product.
#13
What is the purpose of the Robinson-Patman Act?
To prevent price discrimination
ExplanationThe Robinson-Patman Act aims to prevent price discrimination in the marketplace.
#14
What is 'bid rigging' in the context of antitrust law?
An agreement among competitors to manipulate the bidding process
Explanation'Bid rigging' in antitrust law involves competitors colluding to manipulate the bidding process.
#15
What is the 'Herfindahl-Hirschman Index' (HHI) used for in antitrust analysis?
To measure market concentration
ExplanationThe 'Herfindahl-Hirschman Index' (HHI) is used to measure market concentration in antitrust analysis.