Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 13: Problem 3

A key passage of the Act stated that "every contract, combination in the form of trust or otherwise, in restraint of commerce among the several states, or with foreign nations, is hereby declared illegal." (LO2) a) Clayton c) U.S. Communications b) FTC d) Sherman

Short Answer

Expert verified
The correct answer is d) Sherman. The passage is taken from the Sherman Act, which outlaws contracts or agreements in restraint of commerce and was the first federal statute to limit cartels and monopolies in the United States.

Step by step solution

01

Read the quote

The passage states, "every contract, combination in the form of trust or otherwise, in restraint of commerce among the several states, or with foreign nations, is hereby declared illegal." The quote is discussing a piece of legislation that outlaws contracts or agreements in restraint of commerce. #Step 2: Assess the options#
02

Review the answer choices

The student must choose from the following options: a) Clayton b) FTC c) U.S. Communications d) Sherman #Step 3: Connect the quote to the correct legislation#
03

Find the correct answer

The passage is taken from the Sherman Act, which was the first federal statute to limit cartels and monopolies in the United States, and one of the main antitrust laws in the U.S. Thus, the correct answer is: d) Sherman

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

The Microsoft case ended with (LO3) a) a clear-cut win for the federal government b) a compromise settlement between Microsoft and the federal government c) a guilty plea by Microsoft, but no breakup of the company d) an abandonment of the case by the federal government

Which statement is the most accurate? a) Virtually no chief executive officers of large corporations have gone to prison in recent years. b) About one-quarter of the chief executive officers of the 500 largest American corporations have either gone to prison, paid large fines, or both. c) Although some chief executive officers of large corporations have received prison sentences, none has been longer than three years. d) Martha Stewart was the only person to do actual time in prison for corporate crime. e) In recent years some corporate executives have received prison sentences of over five years.

In the 1950 s and 1960 s the predominant form of merger was the merger. a) horizontal c) conglomerate b) vertical d) diversifying

Each of the following was a plausible reason for the Justice Department to block a proposed merger between AT\&T and T-Mobile in 2011 except a) It would have left millions of customers without wireless service. b) It would have created a duopoly with Verizon, controlling three-quarters of the wireless market. c) It would have resulted in higher prices and fewer consumer choices. d) It might have resulted in poorer service.

The Clayton Antitrust Act prohibited each of the following except a) price discrimination b) interlocking stockholding c) interlocking directorates d) trusts
See all solutions

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free