When Alexander Hamilton Argued That Congress Had the Constitutional Authority

question 80

Multiple Choice

When Alexander Hamilton argued that Congress had the constitutional authority to establish a national bank, what was the basis of his assertion?

• A) Article 1, section 8 of the Constitution explicitly states that Congress has the authority to regulate banks.
• B) The Ninth Amendment to the Constitution states any powers not contained in the Constitution are reserved to Congress.
• C) The Constitution gives Congress the authority to do whatever is "necessary and proper" to perform its duties.
• D) Article 2, section 3 of the Constitution allows the president as the chief executive of the country to establish any institution he sees fit.
• E) The Tenth Amendment states that Congress can assume powers if those powers are implied in the Constitution.

---

Definitions:

Actual Production

The real, quantifiable amount of goods or services produced by a company within a specific period.

Fixed Factory Overhead Volume Variance

A measure used in managerial accounting to assess the difference between the budgeted and the actual volume of production, affecting fixed overhead costs.

Standard Fixed Overhead Rate

Rate calculated by dividing the budgeted fixed overhead by the standard activity index (like labor hours or machine hours) expected.

Productive Capacity

The maximum output a system, entity, or project can produce over a specific period under normal conditions.