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Which of the following is not part of our portfolio of antitrust acts

Which of the following is not part of our portfolio of antitrust acts?

a. Sherman Act

b. Clayton Act

c. Federal Trade Commission Act

d. Robinson-Patman Act

e. Herfindahl-Hirschman Act

32.              The Celler-Kefauver Act made it illegal to

a. provide selective discounts

b. set prices below marginal cost

c. conspire to collude

d. buy a competitor’s patents, plants, or equipment

e. price discriminate

33.              Which of the following is not one of the four anticompetitive activities outlined in the
                            Clayton Act?

a. price discrimination

b. exclusive buyer/seller contracts

c. buying a competitor’s voting stock

d. buying a competitor’s plants and equipment

e. interlocking boards of directors

34.              The first major piece of antitrust legislation was

a. Clayton Act

b. Celler-Kefauver Act

c. Sherman Act

d. Rockefeller Act

e. Robinson-Patman Act

35.              The rule of reason was an antitrust law guideline that emphasized the importance of
                            ________ over ________.

a. price; quantity

b. quantity; price

c. law; the economy

d. size; behavior

e. behavior; size

36.              The per se criterion was an antitrust law guideline that emphasized ________ over
                            ________.

a. price; quantity

b. quantity; price

c. law; the economy

d. size; behavior

e. behavior; size

37.              __________ are most likely to raise the eyebrows of antitrust officials while ______ are
                            not.

a. Price discriminators; predatory pricers

b. Conglomerate mergers; vertical mergers

c. Horizontal mergers; conglomerate mergers

d. Low Herfindahl-Hirschman indices; high Herfindahl-Hirschman indices

e. Patent sales; patent purchases

38.              Which answer best describes how economists suggest we deal with monopolies
                            and oligopolies?

a. We should regulate them all until the markets become competitive.

b. We should leave them alone.

c. Those firms should be nationalized.

d. We should fully enforce all antitrust laws.

e. There is no consensus among economists on this issue.

39.              If monopolies are both inevitable and bad, which policy alternative will be least
                            disruptive of all effective policy alternatives?

a. regulate prices

b. nationalize

c. laissez-faire

d. encourage concentration

e. split up the monopoly

40.              Some economists agree that monopolies are inevitable and bad, but they also believe that
                            price regulation is the wrong way to combat the high prices of a monopolist. They prefer

a. deregulating prices

b. nationalization

c. laissez-faire

d. encouraging concentration

e. splitting up the monopoly

Dec 12 2019 View more View Less

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