Congress Chapter 4.3

Define the term 'Expressed powers'.

• Powers explicitly granted to Congress by the Constitution

• Powers assumed by the government to fulfill its duties

• Powers shared by both state and federal governments

• Powers reserved for the states

What does the term 'Implied Powers' refer to?

• Powers explicitly stated in the Constitution

• Powers not explicitly stated but necessary to implement the expressed powers

• Powers that are shared between state and federal governments

• Powers that are reserved for the states

Inherent Powers are powers that are:

• Explicitly stated in the Constitution

• Implied and necessary for the government to function

• Exclusively belongs to the states.

• Defined by state laws

Define the term 'Commerce Power'.

• The power to regulate trade between states and with foreign nations

• The power to levy taxes on goods and services

• The power to control the production of goods

• The power to set prices for goods and services

Define the term 'Tax'.

• A mandatory financial charge imposed by a government.

• A voluntary donation to a charitable organization.

• A fee paid for a subscription service.

• A penalty for breaking the law.

Public debt is defined as:

• The total amount of money that a country's government has borrowed.

• The total amount of money that private individuals owe to banks.

• The total amount of money that businesses owe to each other.

• The total amount of money that a country's citizens have saved.

Deficit Financing is defined as:

• The practice of funding government spending by borrowing.

• The process of reducing government expenditure.

• The method of increasing government revenue through taxation.

• The strategy of balancing the budget by cutting costs.

What is the definition of the term 'Bankruptcy'?

• A legal proceeding involving a person or business that is unable to repay outstanding debts.

• A financial strategy to increase wealth through investments.

• A method of saving money for future expenses.

• A type of insurance policy for businesses.

Define the term 'Legal tender'.

• A type of currency that must be accepted if offered in payment of a debt.

• A form of currency that is only accepted in certain regions.

• A type of currency that is backed by gold.

• A form of currency that is used for international trade.

Copyright is defined as:

• The exclusive legal right to reproduce, publish, and sell the matter and form of a literary, musical, or artistic work.

• The right to use a trademark or brand name.

• The right to own and use a piece of land.

• The right to vote in an election.