What Is the Significance of the House Ways and Means

question 40

Multiple Choice

What is the significance of the House Ways and Means Committee?

• A) It is the only committee that has the power to report legislation.
• B) It is the primary author of the tax bills, which must originate in the House.
• C) It is the first committee that was ever formed in Congress.
• D) It holds most of the subcommittees in the House within it.

---

Definitions:

Minimal Services

Offerings or services provided at the most basic or minimal level, often characterized by low cost and essential features only.

Car Depreciation

The reduction in value of a car over time, primarily due to wear and tear and age.

Resale Price

The price at which an item is sold after it has been previously purchased or used.

Adverse Selection

A situation in financial markets where buyers and sellers have access to different levels of information, often leading to transactions where the party with less information is at a disadvantage.