How is a relevant market identified by Section 2 of the ShermanAct 2 are mergers between firms in totally unrelated businesses A Conglomerate mergers B Market extension mergers C Forward vertical mergers D Horizontal mergers 3 The unfair advantage theory is intended to prevent wealthy companies from overwhelming the competition in a given market True False 4 are vertical trade restraints that involve the seller's refusal to sell a particular product to a customer unless the customer purchases a second product A Bundling B Tying arrangements C Predatory selling D Noerr violations 5 The is a defense in a Section2(a) action which provides that aseller's price discrimination is not unlawful if the price differential is due to differences in the cost ofmanufacture, sale, ordelivery of the product A cost justification defense B meeting the competition defense C natural monopoly defense D changing conditions defense 6 The Federal Trade Commission(FTC) and the Department of Justice share the power to enforce the FTC Act True False 7 Which of the following businesses or activities enjoys an implied exemption from antitrustlaws A agricultural cooperatives B airlines C railroads D labor unions 8 States lack the power to enact antitrust statutes autonomously True False 9 prohibits the act of monopolization A Section 2 of the Sherman Act B Section 8 of theRobinson Patman C Title II of theEmmanuel Lewis Webster Act D Article 7 of the Clayton Act 10 laws are federal and state statutes and regulations that promote product safety and prohibitabusive, unfair, and deceptive business practices A Profit prendre B Caveat emptor C Consumer protection D Canon 11 The U S Department of Agriculture places mandatory and consistent labeling requirements on A raw seafood B ready to eat meals C raw fruits and vegetables D meat and poultry products 12 The Nutrition Labeling and Education Act(NLEA) applies to packaged foods and other foods regulated by the A Patient Protection and Affordable Care Act B U S Department of Agriculture C Food and Drug Administration D Consumer Product Safety Commission 13 In which of the following ways does the FDA regulatecosmetics A by placing a complete ban on animal testing in the cosmetic industry B by adding warnings for potential carcinogens C by regulating the sale of cosmetics through exclusive FDA approved stores D by autonomously undertaking criminal proceedings against nonconforming cosmetic companies 14 TheFDA's Menu Labeling Rule requires restaurants that come under the rule to post on its menus and menu boards the A presence of nuts or dairy in any of its items B number of calories a healthy person should eat in a day C total dietary fiber in each food item D number of servings in each food item listed 15 FDA approval is not mandatory for medicinal devices to be legally sold in the United States True False 16 The FDA cannot recall any cosmetics that contain unsubstantiated claims of preserving youth or increasing virility from the market True False 17 Which of the following consumer products comes under the purview of the Consumer Product Safety Commission(CPSC) A children's toys B firearms C aircrafts D motor vehicles 18 The Consumer Product Safety Commission is the federal administrative agency empowered to enforce the FDCA True False 19 Firearms represent an example of consumer products that do not come under the Consumer Product Safety Commission(CPSC) rules True False 20 Which of these is NOT regulated by the National Traffic and Motor Vehicle SafetyAct A school buses B self driving vehicles C electric powered vehicles D segways 21 The safest vehicles on the road are A passenger automobiles B school buses C SUVs D motorcycles 22 Which of the following is true of the Federal Trade Commission(FTC) A TheFTC's decision can be appealed in a state court B The FTC can only sue in state courts C The FTC is not allowed to directly disclose its findings to the public D The FTC can sue to obtain compensation on behalf of the consumer 23 Which of the following is true of theDo Not Call Registry forconsumers A Telemarketers have three days to remove thecustomer's name upon registry B The registration is valid for the lifetime of the customer who opted for it C Charitable and political organizations are exempt from the registry D Customers cannot choose the companies from which they do not wish to receive calls 24 The U S Supreme Court has deemed theDo Not Call Registry service as an unconstitutional violation of commercial speech True False 25 The is a federal statute that requires disclosure of credit terms on credit card and charge card solicitations and applications A Fair Debt Collection Practices Act B Fair and Accurate Credit Transactions Act C Fair Credit Reporting Act D Fair Credit and Charge Card Disclosure Act 26 is defined as credit extended to natural persons forpersonal, family, or household purposes A Wholesale credit B Retail credit C Natural person credit D Consumer credit 27 In accordance with the Fair Debt Collection Practices Act(FDCPA), a debt collector can contact a debtor A even if the debtor is represented by an attorney B at church C after 9 p m if the debtor works an overnight shift D atwork, regardless of theemployer's objections 28 The Fair and Accurate Credit Transactions Act permits consumers to place fraud alerts on their credit files True False 29 The Equal Credit Opportunity Act does not have provisions for consumers to recover damages against the creditor True False 30 State data breach notification laws generally A require entities that have suffered a data breach to notify customers or other affected parties of the security breach B require entities that have suffered a data breach to confidentially notify the state auditor general C apply only to private entities and not to governmental entities D require entities that have suffered a data breach to conduct a secret data system audit 31 Many states have enacted state consumer protection laws that prohibitfraudulent, deceptive, and unfair trade practices that harm consumers Which of these is NOT a usual feature of theselaws A expelling from the state those who have conducted unfair trade practices B creation of a state administrative agency to enforce state consumer protection laws C the ability to conduct inspections D the ability to hold administrative hearings

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How is a relevant market identified by Section 2 of the ShermanAct? 2.. ________ are mergers between firms in totally unrelated businesses. A. Conglomerate mergers

How is a relevant market identified by Section 2 of the ShermanAct?

2.. ________ are mergers between firms in totally unrelated businesses.

Conglomerate mergers

Market extension mergers

Forward vertical mergers

Horizontal mergers

3.. The unfair advantage theory is intended to prevent wealthy companies from overwhelming the competition in a given market.

True

False

4.. ________ are vertical trade restraints that involve the seller's refusal to sell a particular product to a customer unless the customer purchases a second product.

Bundling

Tying arrangements

Predatory selling

Noerr violations

5.. The________ is a defense in a Section2(a) action which provides that aseller's price discrimination is not unlawful if the price differential is due to"differences in the cost ofmanufacture, sale, ordelivery" of the product.

cost justification defense

meeting the competition defense

natural monopoly defense

changing conditions defense

6.. The Federal Trade Commission(FTC) and the Department of Justice share the power to enforce the FTC Act.

True

False

7.. Which of the following businesses or activities enjoys an implied exemption from antitrustlaws?

agricultural cooperatives

airlines

railroads

labor unions

8.. States lack the power to enact antitrust statutes autonomously.

True

False

9.. ________ prohibits the act of monopolization.

Section 2 of the Sherman Act

Section 8 of theRobinson-Patman

Title II of theEmmanuel-Lewis-Webster Act

Article 7 of the Clayton Act

10.. ________ laws are federal and state statutes and regulations that promote product safety and prohibitabusive, unfair, and deceptive business practices.

Profit--prendre

Caveat emptor

Consumer protection

Canon

11.. The U.S. Department of Agriculture places mandatory and consistent labeling requirements on________.

raw seafood

ready-to-eat meals

raw fruits and vegetables

meat and poultry products

12.. The Nutrition Labeling and Education Act(NLEA) applies to packaged foods and other foods regulated by the________.

Patient Protection and Affordable Care Act

U.S. Department of Agriculture

Food and Drug Administration

Consumer Product Safety Commission

13.. In which of the following ways does the FDA regulatecosmetics?

by placing a complete ban on animal testing in the cosmetic industry

by adding warnings for potential carcinogens

by regulating the sale of cosmetics through exclusive FDA approved stores

by autonomously undertaking criminal proceedings against nonconforming cosmetic companies

14.. TheFDA's Menu Labeling Rule requires restaurants that come under the rule to post on its menus and menu boards the________.

presence of nuts or dairy in any of its items

number of calories a healthy person should eat in a day

total dietary fiber in each food item

number of servings in each food item listed

15.. FDA approval is not mandatory for medicinal devices to be legally sold in the United States.

True

False

16.. The FDA cannot recall any cosmetics that contain unsubstantiated claims of preserving youth or increasing virility from the market.

True

False

17.. Which of the following consumer products comes under the purview of the Consumer Product Safety Commission(CPSC)?

children's toys

firearms

aircrafts

motor vehicles

18.. The Consumer Product Safety Commission is the federal administrative agency empowered to enforce the FDCA.

True

False

19.. Firearms represent an example of consumer products that do not come under the Consumer Product Safety Commission(CPSC) rules.

True

False

20.. Which of these is NOT regulated by the National Traffic and Motor Vehicle SafetyAct?

school buses

self-driving vehicles

electric-powered vehicles

segways

21.. The safest vehicles on the road are________.

passenger automobiles

school buses

SUVs

motorcycles

22.. Which of the following is true of the Federal Trade Commission(FTC)?

TheFTC's decision can be appealed in a state court.

The FTC can only sue in state courts.

The FTC is not allowed to directly disclose its findings to the public.

The FTC can sue to obtain compensation on behalf of the consumer.

23.. Which of the following is true of theDo-Not-Call Registry forconsumers?

Telemarketers have three days to remove thecustomer's name upon registry.

The registration is valid for the lifetime of the customer who opted for it.

Charitable and political organizations are exempt from the registry.

Customers cannot choose the companies from which they do not wish to receive calls.

24.. The U.S. Supreme Court has deemed theDo-Not-Call Registry service as an unconstitutional violation of commercial speech.

True

False

25.. The________ is a federal statute that requires disclosure of credit terms on credit card and charge card solicitations and applications.

Fair Debt Collection Practices Act

Fair and Accurate Credit Transactions Act

Fair Credit Reporting Act

Fair Credit and Charge Card Disclosure Act

26.. ________ is defined as credit extended to natural persons forpersonal, family, or household purposes.

Wholesale credit

Retail credit

Natural person credit

Consumer credit

27.. In accordance with the Fair Debt Collection Practices Act(FDCPA), a debt collector can contact a debtor________.

even if the debtor is represented by an attorney

at church

after 9 p.m. if the debtor works an overnight shift

atwork, regardless of theemployer's objections

28.. The Fair and Accurate Credit Transactions Act permits consumers to place fraud alerts on their credit files.

True

False

29.. The Equal Credit Opportunity Act does not have provisions for consumers to recover damages against the creditor.

True

False

30.. State data breach notification laws generally________.

require entities that have suffered a data breach to notify customers or other affected parties of the security breach

require entities that have suffered a data breach to confidentially notify the state auditor general

apply only to private entities and not to governmental entities

require entities that have suffered a data breach to conduct a secret data system audit

31.. Many states have enacted state consumer protection laws that prohibitfraudulent, deceptive, and unfair trade practices that harm consumers. Which of these is NOT a usual feature of theselaws?

expelling from the state those who have conducted unfair trade practices

creation of a state administrative agency to enforce state consumer protection laws

the ability to conduct inspections

the ability to hold administrative hearings