The Supremacy Clause, Stipulated in Article VI of the Constitution

question 18

Multiple Choice

The supremacy clause, stipulated in Article VI of the Constitution, holds that

• A) in a conflict between federal and state laws, the former will override the latter.
• B) in the federal system established by the Constitution, the true source of sovereignty is in the people.
• C) federal laws will be supreme in the national sphere, and state laws will be supreme in local affairs.
• D) as a sovereign institution, the only limits that the federal government need obey are ones that it establishes for itself.
• E) despite temporarily sacrificing certain powers to the federal government, the state governments remain sovereign entities.

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Definitions:

Commercial Banks

Financial institutions that accept deposits from the public, offer various savings products, and provide loans including personal, mortgage, and business loans.

Insurance Companies

Businesses that provide coverage, in the form of compensation resulting from loss, damages, injury, treatment, or hardship in exchange for premium payments.

Money Market Security

Short-term financial instruments, typically debt-based, that are highly liquid and considered to have low risk.

U.S. Treasury Bill

A short-term government security issued by the United States Department of the Treasury with maturity periods typically less than one year.