The Sherman Antitrust Act of 1890

question 56

Multiple Choice

The Sherman Antitrust Act of 1890

• A) was intended by Congress to prevent monopoly actions by both business and labor organizations.
• B) was intended by Congress to prevent monopoly actions by business only, but was also used by the courts as a weapon against labor unions.
• C) was intended as a measure to control unions but was also used by the courts to control business.
• D) was intended to prevent monopoly actions by business only and was never used by the courts against unions.

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Definitions:

Merchandise Purchases Budget

A financial plan that estimates the cost of goods a business needs to buy to meet its sales goals.

Production Budget

An estimate of the total cost of production (including materials, labor, and overhead) for a specific period.

Long-Range Planning

The process of defining strategic goals and making decisions on allocating resources to pursue this strategy over an extended period, typically beyond one year.

Budget Period

The time frame for which a budget is planned and implemented, often one fiscal year.