Which of the following prohibits monopolies attempts to monopolize and any restraint of trade?
The Sherman Act outlaws “every contract, combination, or conspiracy in restraint of trade,” and any “monopolization, attempted monopolization, or conspiracy or combination to monopolize.” Long ago, the Supreme Court decided that the Sherman Act does not prohibit every restraint of trade, only those that are …
What made monopolization and restraint of trade illegal?
The Sherman Antitrust Act was enacted in 1890 to curtail combinations of power that interfere with trade and reduce economic competition. It outlaws both formal cartels and attempts to monopolize any part of commerce in the United States.
What were the goals of the Clayton Antitrust Act quizlet?
The Clayton Antitrust Act is an amendment passed by U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890 on topics such as price discrimination, price fixing and unfair business practices. You just studied 8 terms!
What was a difference between the Sherman and Clayton Antitrust Act?
Whereas the Sherman Act only declared monopoly illegal, the Clayton Act defined as illegal certain business practices that are conducive to the formation of monopolies or that result from them. The Clayton Act and other antitrust and consumer protection regulations are enforced by the Federal Trade Commission.
What was the problem with the Sherman Antitrust Act?
The Sherman Act was designed to restore competition but was loosely worded and failed to define such critical terms as “trust,” “combination,” “conspiracy,” and “monopoly.” Five years later, the Supreme Court dismantled the Sherman Act in United States v.
Which of the following is the purpose of the Clayton Act?
The newly created Federal Trade Commission enforced the Clayton Antitrust Act and prevented unfair methods of competition. Aside from banning the practices of price discrimination and anti-competitive mergers, the new law also declared strikes, boycotts, and labor unions legal under federal law.
How did the Clayton Antitrust Act help regulate the economy quizlet?
How did the Clayton Antitrust Act help regulate the economy? The Clayton Antitrust Act spelled out what businesses could and could not do. Why was the Sixteenth Amendment important to Woodrow Wilson’s efforts to regulate the economy? The Sixteenth Amendment allowed Congress to levy an income tax.
How did the Clayton Antitrust Act help labor unions quizlet?
How did the Clayton Antitrust Act benefit labor? Strikes, peaceful picketing, boycotts, and the collection of strike benefits became legal. Aimed to restore economic opportunities and correct injustices in American life.
Which act served as an amendment to the Clayton Act?
While it remains fully in force today, the Clayton Antitrust Act was amended in 1936 by the Robinson-Patman Act and in 1950 by the Celler-Kefauver Act. The Robinson-Patman Act strengthened laws banning price discrimination among customers.