What Are the Two Most Important Powers That the Founding

question 30

Multiple Choice

What are the two most important powers that the Founding Fathers saw as vested in the legislative branch?

• A)Appointing the chief executive
• B)Declaring war and controlling government finances
• C)Nominating judges to federal courts
• D)Declaring war and deciding who gets to be a citizen
• E)Controlling government finances and legislating public morals

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Definitions:

Monopolist's Profits

The excess earnings a monopolist obtains over what it would earn in a competitive market due to its market power.

Competitive Conditions

The characteristics of a market environment that influence the level of competition between businesses, including the number of competitors, product differentiation, and barriers to entry.

Inefficiency

A situation in which resources are not used in the most productive way, leading to wasted inputs or suboptimal output.

Output

The total amount of goods or services produced by a firm or economy.