Reference no: EM133193619 , Length: 2 pages

Section -1 Multiple Choice

Question 1- The basic Antitrust Laws Economic Assumption states that:
A) Many Small Competitors Better Than Few Larger Ones.
B) One big Competitor serves the market Better Than many smaller Ones.
C) Big and small businesses are important to induce competition.
D) All of the above

Question 2- In a bankruptcy, the trustee has all below Powers except:
A) Affirm or disaffirm contracts with the debtor which are yet to be performed.
B) Affirms certain transfers of property by the debtor to creditors.
C) Sue people who owe the debtor an obligation.
D) Set aside statutory liens against the debtor's property.

Question 3- All are exemptions to antitrust laws except:
A) Insurance Companies.
B) Financial cooperatives.
C) Shipping.
D) Milk Marketing.

Question 4- All are Types of Mergers/ Acquisitions except:
A) Vertical.
B) Horizontal.
C) Franchise.
D) Conglomerate.

Question 5- Restraint of Trade includes:
A) Contracts combinations.
B) Conspiracies.
C) Price Fixing.
D) All of the above.

Question 6- Price Fixing can be:
A) Horizontal
B) Vertical.
C) Indirect.
D) All of the above.

Question 7- Exceptions to price discrimination:
A) Good-Faith Meeting-Of-Competition.
B) Pricing due to changing conditions.
C) Cost justification
D) All of the above

Question 8- Under Equal Credit Opportunity Act, responsibilities of a credit extender:
A) Must consider alimony, child support, and maintenance payments as income
B) Information on accounts used by both spouses must be reported to third Section ies in their names
C) Must provide specific reasons for credit denial Shared
D) All of the above

Question 9- Truth-in-Lending Act covers all transactions except:
A) Lender is in the business of extending credit
B) Debtor is a natural person
C) Finance charge can be imposed
D) Credit is obtained for business purposes

Question 10- The underlying purpose and objective of the area of antitrust laws and regulations is
A) Social development
B) Environmental protection
C) Political advantage
D) Workable competition

Section -2 T or F

Question 1- Antitrust Describes All Laws Intended to Promote and Regulate Competition and Make Competitive Economic system work.

Question 2- Activities of farm cooperatives are NOT exempt from coverage of antitrust laws.

Question 3- To improve competition, No Organization/Individual Should Control Production Quantities or Set production.

Question 4- Double damages are only applied in case of breach of antitrust laws.

Question 5- Microsoft continues to enjoy its monopoly in windows.

Question 6- Most Large Defendants in antitrust cases are businesses locally Based.

Question 7- In truth in lending act, full disclosure of the information can be accomplished through stating the First charge and Annual percentage rates.

Question 8- Quantity Purchase Advantage (FTC) respects the fairness of market competition.

Question 9- Equal Credit Opportunity Act Applies to anyone who prepares or uses a credit report.

Question 10- The Investigative consumer reports protection states that a minimum of five days of advance notice the given to attain such report.

Section -3 Short essay

Question 1- Plaintiffs, soft drinks retailers, brought suit alleging that their wholesalers had engaged in an unlawful conspiracy to restrain trade by refusing to sell soft drinks unless plaintiffs paid cash in advance or at the time of the delivery. The wholesalers had an agreement that none of them would grant short-term credit although such credit had been extended in the past. Question: Is the agreement a breach of the antitrust laws? Explain briefly the reason behind your answer.

Question 2- How does the FTC (Federal Trade Commission) determine if an add is deceptive?