Description
Anderson’s Business Law & The Legal Environment – Comprehensive Edition (MindTap Course List) 24th Edition – Test Bank
All the chapters are included
Chapter 5
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True / False |
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1. The government can regulate business competition and prices. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-1 The Power to Regulate Business OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 10/8/2020 8:37 PM |
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2. Nobel economist Milton Friedman believes that government regulation of business interferes with the free enterprise system. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-1 The Power to Regulate Business OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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3. An agreement between or among horizontal competitors to charge the same price is not per se a violation of the Sherman Act. a. True b. False ANSWER: False POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-1 The Power to Regulate Business OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 10/8/2020 8:39 PM |
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4. Governments may regulate business pricing practices but not business credit terms. a. True b. False ANSWER: False POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-2 Regulation of Horizontal Markets and Competitors OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 10/8/2020 8:40 PM |
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5. Each of the states and the federal government have statutes and regulations that prohibit unfair methods of competition. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-1 The Power to Regulate Business OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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6. The Federal Trade Commission administers the law prohibiting unfair methods of competition. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-1 The Power to Regulate Business OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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7. An agreement between real estate brokers to never charge a commission less than 6% is not an example of price fixing. a. True b. False ANSWER: False POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-2 Regulation of Horizontal Markets and Competitors OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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8. The Sherman Act applies only to buying and selling activities, not manufacturing and production activities. a. True b. False ANSWER: False POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-2 Regulation of Horizontal Markets and Competitors OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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9. Having a large percentage of the market is not necessarily a monopoly. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 5-2 Regulation of Horizontal Markets and Competitors OTHER: AACSB Analytic DATE CREATED: 8/11/2020 11:33 AM DATE MODIFIED: 8/11/2020 11:33 AM |
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