BUL 4321 Exam
According to the United States Supreme Court, courts should not defer to an administrative agency's interpretation of the law
False
An agency's interpretation of the law will not be upheld by a court unless it is supported by specific evidence - a reasonable explanation is not enough.
False
Legislatures create statutory law and administrative law.
False
For an agency's interpretation of the law to be accorded deference by a court, it must meet the formal standards for notice-and-comment rule making.
True
Proving an antitrust violation requires showing a misuse of market power.
True
Dig Inc. is the major wholesale distributor of heavy equipment in six states. Dig's closest competitor is Excavator Company. The two firms agree that Dig will operate in four of the states and Excavator in the other two. This is
a market division
Bio Med Corporation makes and sells Curative. the most prescribed name-brand pain relief medication. Drugs Inc. has the potential to make a generic version of the same drug. Bio Med agrees to pay Drugs not to make or sell the generic. This agreement is most likely
a per se violation of the Sherman Act
Tim is a witness in a controversy involving the US Bureau of Tobacco and Firearms. Tim can be compelled to appear before an administrative law judge if he is served with
a subpoena
Best View Corporation offers to sell LED screens to Computer & Video Inc., only if the buyer also agrees to by the sellers servicing of its products. This is
a tying arrangement
The US Small Business Administration issues a new regulation that will have a significant impact on a substantial number of small businesses. Under the Regulatory Flexibility Act, the agency must do all of the following except
adjust the rule to the satisfaction of the regulated businesses
Organic Frozen Foods Corporation is subject to regulations issued by the Food and Drug Administration, which is a federal agency. These regulations are part of the body of
administrative law
Pump Makers Inc makes pumps for fire trucks and conditions shipments of its products to Quality Motors Corporation - a maker of fire trucks - on Quality agreement to buy additional pumps only from Pump Makers. This is
an exclusive dealing contract
The rules of administrative agencies can be
as binding as laws passed by Congress.
Under the contract, Oil Shale Corporation forbids Petro. Inc, a wholesale buyer of Oil Shales products, to purchase products from the seller's competitors. This is prohibited
if its effects is to substantially lessen competition
The Securities and Exchange Commission decides to create a new rule relating to the dissemination of material nonpublic information through social media. The first step is
publish a notice of the proposed rulemaking
The Food and Drug Administration wants Phrama Inc. to produce certain records for review. Pharma need not reveal
trade secrets
Expressly exempt from antitrust laws because it is not interstate commerce, according to the United Supreme Court, is
professional baseball
Because commerce operates more efficiently when competition cooperate, Section 1 of the Sherman Act permits rivals to consolidate market power.
False
Interested parties are not given the opportunity to express their views on a proposed rule because their efforts might influence agency policy.
False
Preventing agencies from abusing their powers without hindering the agencies as they carry out their duties is not a governmental concern
False
A market in which there is a single seller or a very limited number of sellers is a monopoly.
True
As the economy has grown more complex, the size of the government has also increased. and so has the number of administrative agencies
True
Congress can exercise authority over the power of an administrative agency by revising its funding, changing its responsibilities, or abolishing it altogether.
True
Id the legitimate benefits outweigh the anticompetitive effects of a resale price maintenance agreement, the agreement may be held lawful.
True
Delta Water Company is subject to a decision by the enviromental Protection Agency. Delta appeals the decision, arguing that is arbitrary and capricious. This could mean that the decision
changed the agency's prior policy without justification
To be assured that a court will defer to an administrative agency's interpretation of the law, the agency must
meet the formal legal standards for notice-and-comment rulemaking
Independent Regulatory Agencies such as the Federal Communications Commission are
outside the federal executive departments
The procedures used by administrative agencies in fulfilling their basic functions is known as
the administrative process
When a state administrative regulation conflicts with a federal administrative regulation
the federal regulation takes precedence
The executive branch of the government can exercise control over an administrative agency through
the president's veto power.