taxes that are apportioned among the states, according to their populations
What is direct tax?
100
Congress has power to borrow money on the credit of the US
What are borrowing powers?
100
the power to tax, the borrowing power, the commerce power, the currency power, the bankruptcy power
what are three examples of Congress' expressed powers relating to money and commerce?
100
The power of congress to regulate interstate and foreign trade.
What is commerce power?
100
_______ are where most of the expressed powers of Congress are written in the Constitution
what is article 1, section 8?
200
state of being legally unable to pay one's debts
What is bankruptcy
200
practice of spending more $ than receiving in revenue and borrowing to make up the difference.
What is Deficit financing?
200
a direct tax is one that must be paid directly to the government by the person on whom it is imposed and indirect tax is one first paid by one person but then passed on to another.
What is the difference between direct and indirect tax?
200
_______ gives Congress the authority to regulate interstate and foreign trade, but not trade within a state.
What do commerce powers do?
200
the process by which citizens of one country become citizens of another country.
What is naturalization?
300
Powers that are directly stated in the constitution
What are expressed powers?
300
all of the money borrowed by the gov’t that hasn’t been repaid PLUS the interest on that money.
What is Public debt?
300
The federal government spent more than it took in each year and borrowed to make up the difference. As a result, the public debt has risen over the years.
How does deficit financing lead to public debt?
300
exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product
What is foreign trade?
300
a grant of the sole right to manufacture, use, or sell any new and useful process or machine for up to 20 years
What is patent?
400
must be issued at uniform rates in all parts of the country.
What is indirect tax?
400
The federal government spent more than it took in each year and borrowed to make up the difference. As a result, the public debt has risen over the years
How does deficit financing lead to public debt?
400
coin money
collect taxes
What are examples of fiscal power?
400
1. To raise money to meet public needs
2. To protect domestic industry against foreign competition
3. To protect the public health and safety
What are purposes of taxes?
400
The final clause of Article I, Section 8 the Constitution, which gives Congress the power to make all laws necessary and proper.