Because of the Doctrine of Federal Supremacy

question 10

Multiple Choice

Because of the doctrine of federal supremacy,

• A) no state may impose a regulation if there is an existing federal law to cover the problem.
• B) no state law may impose a stricter standard than a federal law.
• C) state statutes may impose standards that are stricter than federal laws unless the federal law is in an area where Congress wants there to be no state regulation.
• D) both a and b.

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Definitions:

Consumer Surplus

The disparity between the cost consumers are prepared to pay for a good or service and the cost they actually encounter.

Buyers

Individuals or entities that purchase goods or services in the market.

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses.

Inefficently

Operating in a manner that does not maximize productivity or use resources in the best possible manner.