The Supreme Court Case That Validated the Broad Definition of National

question 81

Multiple Choice

The Supreme Court case that validated the broad definition of national power as suggested by Alexander Hamilton regarding the "necessary and proper" clause was ________________.

• A) Marbury v. Madison
• B) United States v. Washington
• C) McCulloch v. Maryland
• D) Plessy v. Ferguson

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Definitions:

Clearinghouse

An intermediary agency that facilitates the clearing and settling of financial transactions, often associated with exchanges and securities.

Profit

The earnings resulting when business activity revenues exceed the necessary expenses, costs, and taxes to maintain the activity.

Long Oil Futures Contract

An agreement to buy oil at a specified price on a specified future date, bet taken with the expectation that oil prices will rise.

Close Position

The act of selling or buying securities to offset an existing position, thereby ending the investor's exposure to that investment.