The Principle of the Supremacy of Federal Law Over State

question 65

Multiple Choice

The principle of the supremacy of federal law over state law was affirmed in

• A)Marbury v. Madison.
• B)the Tenth Amendment.
• C)United States v. Darby.
• D)McCulloch v. Maryland.
• E)the presidential election of 1804.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent or salaries.

Variable Cost

A cost that changes with the level of output or production, such as materials and labor costs.

EBIT

Earnings Before Interest and Taxes; a measure of a company's profitability that excludes interest and income tax expenses.

EPS

Earnings Per Share - a company's profit divided by its number of outstanding shares, indicating the profitability on a per-share basis.