Chapter 5
Price-fixing, monopolizing, and mergers among competitors are:
horizontal restraints
How many acts does the government rely on to regulate companies?
4
What is a governmental body charged with administering and implementing legislation?
Administrative Agency
What federal law establishes the operating rules for administrative agencies?
Administrative Procedure Act
What does it mean when competitors refrain from dealing with certain buyers?
Boycott
What prohibits an unreasonable constraint on trade made between two or more companies and prohibits monopolization?
Sherman Antitrust Act
Security Exchange Commission (SEC), Consumer Product Safety Commission (CPSC), and Food and Drug Administration (FDA) are all examples of what?
Administrative Agency
What federal law permits citizens to request documents and records from administrative agencies?
Freedom of Information Act
What is the ability to control price and exclude competitors?
Market Power
What prevented companies from acquiring stock from another company?
Clayton Act
How does an administrative agency have the power to make laws?
Promulgating regulations with public input
What law requires advance notice of agency meeting and public access?
Open Meeting Law
What is a court order to dispose of interests that could lead to a monopoly?
Divestiture order
What protects smaller businesses by limiting the large company’s ability to command discriminatory discounts through its purchasing power?
Robinson-Pacman Act
What states that before an agency can begin rulemaking proceedings, it must be given jurisdiction by congressional enactment in the form of a statute?
Congressional Enabling Act
What order is issued by a court or administrative agency to stop a practice that it decides is improper?
Cease-and-desist order
Price discrimination, exclusive dealings and territories, mergers along the supply chain, resale price maintenance, and tying are:
vertical restraints
What law allows the government to implement the other Antitrust laws and is designed to nip anticompetitive practices in their “incipient” stage?
Federal Trade Commission Act
What requires agencies to make public disclosure of proposed rules, passed rules, and activities?
Federal Register Act
What requires that an agency make its final decision before the parties can go to court?
Exhaustion of administrative remedies