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True or False Quiz
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1
Originally the U.S. Supreme Court applied the Commerce Clause so that federal courts could only regulate commercial activity that passed between two or more states.
A)True
B)False
2
When reasoning by analogy, a judge must find identical fact patterns in the prior case and the present case.
A)True.
B)False.
3
The police power of a state grants the state inherent power to regulate economic activity.
A)True
B)False
4
Amanda sells fractional interests in her quilting projects to friends who then share in the profits when the quilts are sold. Amanda's actions meet the definition of selling securities.
A)True
B)False
5
The rule-of-reason standard applies to minor violations of environmental laws.
A)True
B)False
6
Global Corp., incorporated in Delaware, is operating totally in China and because it is incorporated in the U.S. is subject to American antitrust law.
A)True
B)False
7
The United States Antitrust Modernization Committee is a business group that proposes legislation to the U.S. Congress.
A)True
B)False
8
Kira, a vice president of Moderate Co., knows of a planned merger with Small Co. Kira must not profit personally before that information is revealed to the public.
A)True
B)False
9
The pre-offer technique of a back-up provision makes the company the same size it was when it was first formed.
A)True
B)False
10
The states may regulate intrastate energy prices but not interstate energy prices.
A)True
B)False





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