The Only Limitation on What Statutes May Do in the American

question 5

Multiple Choice

The only limitation on what statutes may do in the American system is found in ______.

• A) the Declaration of Independence
• B) the Constitution
• C) precedent
• D) civil law
• E) common law

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Definitions:

Underground Economy

Unreported or illegal production of goods and services that is not counted in GDP.

GDP

GDP, or Gross Domestic Product, represents the entire value of goods and services produced within a nation's boundaries during a certain time frame.

Net Exports

The value of a country's total exports minus its total imports; a positive number indicates a trade surplus, and a negative number indicates a trade deficit.

Consumption

The use of goods and services by households.