A Major Shortcoming of the Sherman Act Was That

question 301

Multiple Choice

A major shortcoming of the Sherman Act was that

• A) when it was passed, there were no violations, so the Supreme Court ruled it unnecessary.
• B) it failed to explicitly state which specific activities were illegal.
• C) violators of the Act were forced out of business.
• D) it was not enforced by the courts.

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Definitions:

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose.

Terms

The components of an algebraic expression that are separated by addition or subtraction signs.

Trade Discount

A reduction in the retail price offered by sellers to buyers in the trade as an incentive or reward for buying in bulk or meeting certain conditions.

List Price

The price quoted by a supplier of a product before any trade discounts.