BL FINAL
Understanding Antitrust Law Quiz
Test your knowledge on antitrust laws, consumer protection, and environmental regulations with our engaging quiz. This quiz is designed to challenge your understanding of significant legal frameworks that govern competition and consumer rights.
- 50 multiple choice questions
- Score and track your progress
- Improve your understanding of legal concepts
The Sherman Act was designed to prevent a number of anticompetitive business practices, including exclusive dealings contracts and mergers.
True
False
The Traditional school of antitrust theory believes that the overriding objective of antitrust law is to protect competitors.
True
False
The United States Supreme Court tends to embrace either the Chicago School or the Traditional school as it sets the course of antitrust law for the country.
True
False
Labor unions are not exempt from antitrust regulations under the Clayton Act.
True
False
Congress passes antitrust legislation under its Article I, Section 8 power to regulate big business corruption.
True
False
Congress and courts will not grant certain activities and industries exempt from federal antitrust laws.
True
False
There is a civil cause of action for parties who are injured when companies violate federal antitrust laws.
True
False
Violation of a federal antitrust provision is a criminal offense.
True
False
Congress has been active in generating laws aimed at labeling and packaging.
True
False
There has been evidence that information included on labels and packaging influences consumers' purchase decisions
True
False
The Poison Product Packaging Act of 1970 suggests that certain products have child proof caps and packaging.
True
False
Because consumers rely on this information when comparing products and making purchasing decisions, accurate label and packing information is important.
True
False
As a way to provide consumers as much information as necessary about products and credit transactions, significant legislation has been introduced
True
False
The Consumer Protection Agency regulates deceptive advertising on Web pages as well as on television and in the print media
True
False
Legally speaking, there is significant distinction between puffery and deceptive advertising.
True
False
Customers who were misled into purchasing a product must be proven to establish a claim of deceptive advertising.
True
False
The provisions of the Clean Water Act apply to navigable waters.
True
False
Public nuisance actions are not used by the government to stop or reduce pollution.
True
False
Under the National Environmental Planning Act, the federal government is required to prepare and submit environmental impact statements when they undertake construction projects
True
False
The aim of federal governmental laws and regulations is to create air that is entirely smoke free.
True
False
When addressing environmental concerns, administrative agencies play a role in the process of regulating business.
True
False
The EPA does not take into consideration he risks from pollution with the economic impact of compliance.
True
False
The purpose of the EPA is to implement and administer policy regarding pollution of air and water, disposal of solid waste and toxic substances.
True
False
The EPA may regulate and assess penalties for polluters who fail to meet emission limits.
True
False
The first antitrust law passed by Congress, and was designed to address monopolization and anticompetitive collaborative activities was the _____________.
Federal Trade Act
Consumer Protection Act
Sherman Act
Privacy Act of 1974
A powerful administrative agency charged specifically with protecting consumers against deceptive practices and enforcing antitrust laws is which of the following?
Department of Labor
Fair Trade Administration
Ways and Means Committee
Federal Trade Commission
When a manufacturer and its wholesalers limit their ability to market their product, the parties have which type of arrangement?
Vertical group boycott
Vertical division of the market
Price fixing agreement
Horizontal group boycott
Which of the following believes that the primary goal of antitrust laws should be to protect competitors?
Harvard School
Progressive School
Traditional School
Chicago School
The primary goal of antitrust laws should be to promote competition is part of which school’s theory?
Progressive School
Traditional School
Chicago School
Harvard School
Federal antitrust law exemptions do not apply to which of the following?
Joint export activities
Labor unions
Heavily regulated industries such as insurance and utilities.
All professional sports teams that are members of organized leagues
Which of the following may initiate criminal prosecutions of violations of the Sherman Act as felonies?
Federal Bureau of Investigation
Department of the Interior
Department of Justice
Office of the States Attorney
__________ is a court order that prohibits a business from committing any further actions.
Restrictive Covenant
Declaratory Judgment
Order of Default
Injunction
Labeling and packaging of most products must include _______ as mandated by the Fair Packaging and Labeling Act.
Labeling and packaging of most products must include _______ as mandated by the Fair Packaging and Labeling Act.
Nutritional information
Basic information
Chemical composition
_______ products contains labeling and packaging information.
Imported from other countries
Luxury goods
Potentially dangerous
Illegal
Consumers may avoid telemarketing calls by putting their names on a federally maintained list called which of the following?
Phone exemption registry
Consumer opt out registry
Nuisance call registry
Do not call registry
Sally ordered coffee at CoffeeHaus because a sign in the window said “World’s Best Coffee.” CoffeeHaus’s statement is an example of which of the following?
Fraudulent misrepresentation
Puffery
An express warranty
Deceptive advertising
All but which of the following is a requirement for advertising to be deceptive?
The misrepresentation or omission would mislead a reasonable customer.
It must contain a material misrepresentation or omission
The misrepresentation or omission must be made with the intent to defraud
The misrepresentation or omission is likely to mislead a customer.
_________ is a material misrepresentation or omission likely to mislead a potential customer and would mislead a reasonable consumer is _________.
Deceptive advertising
Puffery
Usury
Fraud in the inducement
_______ are promotional statements made by a business about a product or service that are not intended to be taken literally
Deceptive advertising.
Guaranties.
Material misrepresentations.
Puffery.
_________ telemarketing practices are prohibited under the Telemarketing and Consumer Fraud and Abuse Prevention Act.
Aggravating or annoying
Substantially all
Deceptive
Time-consuming
A governmental action, when there is an actual or potential loss of a right to use or enjoy property, is a ______.
Sovereign immunity
Foreclosure hearing
Sheriff's sale
Public nuisance action
Which of the following is an environmental impact statement?
Required filing by the local government when a proposed local project will affect the environment.
Required filing by the federal government when a proposed federal project will affect the environment.
A required filing by a state government when a proposed state project will affect the environment.
A required filing by private businesses with over $100 million in gross profits when a proposed business project will affect the environment.
Which of the following entities hold the responsibility of ensuring that successive generations can enjoy the environment?
Local municipalities
Private landowners
Corporations
The federal government
The federal government will prepare a(n) _______, and addresses those actions associated with a proposed federal project that might affect the environment.
Zoning ordinance
Environmental impact statement
Government appraisal
Land plat
All but which of the following statements is true?
The EPA was created in 1965 as part of the Solid Waste Disposal Act.
The EPA is charged under the Toxic Substances Control Act with identifying substances that will be classified as toxic.
The EPA is charged under the Clean Air Act with setting national ambient air quality standards
The EPA issues discharge permits to industrial polluters.
Sates are responsible for which of the following?
To identify and classify chemicals that are considered toxic.
To implement provisions of the Clean Water Act
To implement provisions of the Clean Air Act.
Both b and c
The coordination of the federal government’s efforts that relate to environmental protection is which of the following agencies?
Bureau of Land Management.
Department of Health and Public Welfare.
Environmental Protection Agency.
Planning and Zoning Commission.
All but which of the following statements is true with regards to national ambient air quality standards?
Air standards have not yet been set for lead, sulfur dioxide and nitrogen dioxide.
The Clean Air Act mandates that the EPA set the national standards.
The standards set the maximum allowed amount of pollutants that is compatible with public health.
Limits are set for each recognized pollutant individually.
States are responsible for the ______.
Enforcement of federal environmental mandates
Implementation of provisions of the Clean Water Act
Implementation of provisions of the Clean Air Act
For all of these activities.
All EXCEPT which of the following statements are true?
The EPA was created in 1965 as part of the Solid Waste Disposal Act.
The EPA is charged under the Toxic Substances Control Act with identifying substances that will be classified as toxic.
The EPA is charged under the Clean Air Act with setting national ambient air quality standards.
The EPA issues discharge permits to industrial polluters.
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