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The Constitution Did Not Give Congress the Authority to Establish

question 67

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The Constitution did not give Congress the authority to establish the Internal Revenue Service. Congress did so, however, to implement its power to "lay and collect taxes." This an example of which of the following types of power?


Definitions:

Ordinary General Annuity

An annuity in which the payment interval does not equal the compounding interval, and payments are made at the end of each payment interval.

Semi-annual Payments

Payments made twice a year, often in the context of loans, investments, or insurance premiums.

Discount Rate

The interest rate used in calculating the present value of future cash flows.

Economic Value

The monetary worth of an asset, service, or company based on its ability to generate income or its utility.

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