Which of the Following Is a Correct Statement About Commerce

question 43

Multiple Choice

Which of the following is a correct statement about commerce power in the U.S.?

• A)The power to regulate commerce is an enumerated power of Congress.
• B)The Constitution does not delineate the dividing line between interstate commerce and intrastate commerce.
• C)The Supreme Court has ruled that manufacturing is part of intrastate commerce and thus subject to state regulation only.
• D)Congress invoked the commerce power in passing a federal law that prohibited the possession of guns within one thousand feet of a school.
• E)All these answers are correct

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Definitions:

Interest

The cost of borrowing money or the return earned on an investment, typically expressed as a percentage.

Interest-Bearing Note

A debt instrument in which the issuer is obligated to pay a specified interest rate on the principal amount at regular intervals until maturity, in addition to repaying the principal.

Interest Expense

The cost incurred by an entity for borrowed funds; it is the price paid for the use of borrowed money, or, for corporations, the price paid for the use of borrowed capital.

Contingent Liability

A potential financial obligation that may arise in the future depending on the outcome of an uncertain event or situation.