Most of the Important Regulatory Programs Were Delegated to Independent

question 90

Multiple Choice

Most of the important regulatory programs were delegated to independent commissions with direct responsibility to

• A)the Federal Reserve.
• B)the president.
• C)the Supreme Court.
• D)the public interest.
• E)Congress.

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Definitions:

Vertical Price-Fixing

An illegal agreement between parties at different levels of the same supply chain, such as manufacturers and retailers, to control prices.

Horizontal Price-Fixing

An agreement between competitors at the same level of the supply chain to set prices, restrict production, or reduce competition.

Sherman Act Section 1

A provision of U.S. antitrust law that prohibits contracts, combinations, or conspiracies that restrain interstate or foreign trade.

Violation

The act of disregarding or breaking a law, agreement, or rule, resulting in possible legal penalties or consequences.