Which of the Following Is MOST CLOSELY Related to the Concept

question 6

Multiple Choice

Which of the following is MOST CLOSELY related to the concept of implied powers?

• A) necessary and proper clause
• B) supremacy clause
• C) Tenth Amendment
• D) commerce clause
• E) the power to tax

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Definitions:

Income Effect

A phenomenon where changes in an individual's income lead to changes in the quantity demanded of a good or service.

Substitution Effect

The economic principle that as the price of a good increases, consumers will replace it with less expensive alternatives.

Normal Good

A product that sees an increase in demand as people's incomes increase, and a decrease in demand when their incomes decrease.

Housing

Refers to the provision and availability of homes and buildings for habitation by individuals and families.