64. Price-fixing is outlawed by the: A) Sherman Antitrust Act. B) Clayton Act. C
ID: 1251931 • Letter: 6
Question
64. Price-fixing is outlawed by the:A) Sherman Antitrust Act.
B) Clayton Act.
C) Federal Trade Commission Act.
D) Celler-Kefauver Act.
65. The Case in Point on the price-fixing scandal involving Archer Daniels Midland (ADM) Company indicated that:
A) only the chief executive officer of the company was sentenced to prison.
B) three top executives of ADM were convicted.
C) the head of the Japanese firm and the chief executive officer of ADM were sentenced to prison.
D) ADM was fined $1 billion and was forced to go out of business.
66. In 1914, Congress created the _______ that was given power to _______ .
A) Sherman Commission; investigate monopoly power
B) Federal Trade Commission; prosecute firms using illegal business practices
C) Clayton Commission; prosecute firms using illegal business practices.
D) Federal Reserve Board; outlaw tying agreements
Explanation / Answer
A) Sherman Antitrust Act. B) three top executives of ADM were convicted. B) Federal Trade Commission; prosecute firms using illegal business practices
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