#1
Which government agency is responsible for enforcing antitrust laws in the United States?
FTC (Federal Trade Commission)
ExplanationFTC ensures fair competition and prevents monopolies.
#2
In what year was the Federal Communications Commission (FCC) established to regulate communication by wire and radio in the United States?
1934
ExplanationEstablished in 1934 to regulate communications.
#3
What does the acronym GDPR stand for in the context of data protection and privacy?
General Data Protection Regulation
ExplanationEU regulation protecting personal data.
#4
What does the acronym FCC stand for in the United States?
Federal Communications Commission
ExplanationRegulatory body for communications.
#5
In the context of consumer rights, what does 'caveat emptor' mean?
Let the buyer beware
ExplanationBuyer should beware of product quality.
#6
When was the Sherman Antitrust Act enacted in the United States?
1887
ExplanationEnacted in 1887 to combat monopolistic practices.
#7
What is the significance of the Robinson-Patman Act in the context of commerce regulation?
It addresses price discrimination and promotes fair competition
ExplanationIt prevents unfair pricing practices.
#8
Which legislation aimed to address consumer protection and ensure the safety of products in the United States?
Consumer Product Safety Act
ExplanationFocuses on product safety and consumer welfare.
#9
Which federal agency is responsible for enforcing laws related to the labeling and advertising of food, drugs, and cosmetics?
Food and Drug Administration (FDA)
ExplanationEnsures safety and accuracy in labeling.
#10
In 1890, the Sherman Antitrust Act was named after which U.S. Senator?
John Sherman
ExplanationNamed after Ohio Senator John Sherman.
#11
What is the primary goal of the Clayton Antitrust Act?
To prevent unfair business practices and anticompetitive behavior
ExplanationIt aims to curb anticompetitive practices.
#12
Which landmark case established the 'commerce clause' as a basis for federal regulation of interstate commerce?
Wickard v. Filburn
ExplanationEstablished broad federal regulatory powers.
#13
Which landmark case clarified the concept of 'strict scrutiny' in relation to government regulation of commercial speech?
Citizens United v. FEC
ExplanationUpheld broad protection for political speech.
#14
What was the main objective of the Securities Act of 1933 in the United States?
To regulate the sale of securities and protect investors
ExplanationRegulates sale of financial securities.
#15
What is the purpose of the Robinson-Patman Act in the context of commerce regulation?
To address price discrimination and promote fair competition
ExplanationPrevents unfair pricing tactics.