What did economist Adam Smith believe?

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Answer 1

Smith held that a free market economy that followed "natural laws" at all times was the optimum setting for promoting economic progress.

What did economist Adam Smith believe?

Smith advocated for frugality, toil, and enlightened self-interest. He believed that most individuals practiced enlightened self-interest naturally. In his well-known illustration, a butcher provides meat not out of altruistic motives but rather because he makes money off of the sale of meat. Smith's economic thought served as the foundation for classical economics since it was the most methodical and thorough study of economics available at the time.

For Adam Smith, liberty included not only the right to free speech and the right to practice one's religion, but also the right to an adequate standard of living, the freedom from onerous taxes and trade restrictions, the freedom from overbearing government regulations, and the right to own and use property in order to start a new business.

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Related Questions

Which of the following terms best describes an operant behavior?
a. automatic
b. reflexive
c. voluntary
d. instinctive
e. unlearned

Answers

The  term that  best describes an operant behavior is voluntary. Option C

What is operant behavior?

Operant conditioning is a type of learning where action is rewarded or punished.

Operant behavior, also known as operant conditioning, is behavior that may be controlled by the individual or "operates" on the environment.

Operant conditioning can be used in behavioral treatment to instigate change based on rewards and punishments.

Opportunistic conditioning is frequently used by people without even being aware of it, particularly when it comes to parenting and other behavior-based facets of life.

Hence, an approach to psychology known as behaviorism emphasizes the use of conditioning to change behavior.

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which of the following explains how congress would most likely respond if it were concerned about the slight increase in spending over time, as indicated by the bar chart?

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Congress may vote to reduce funds for the Department of Homeland Security in the budget for the upcoming year.

What do you mean by Homeland Security?

The U.S. Department of Homeland Security is the federal executive department in responsibility of public security, comparable to other countries' interior or home ministries.

Its claimed missions include counterterrorism, border security, immigration and customs, cyber security, and disaster management.

The Homeland Security Act of 2002, which was passed in response to the September 11 attacks, led to its establishment, and it began to function in 2003. DHS employs more than 240,000 people, making it the third-largest Cabinet department after the Defense and Veterans Affairs departments.

At the White House, the Homeland Security Council handles homeland security initiatives.

Additional organizations that play significant roles in homeland security include the Departments of Health and Human Services, Justice, and Energy.

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What kind of life insurance product covers children under their parent's policy?
A. Family Maintenance rider
B. Term rider
C. Family Income rider
D. Payor benefit

Answers

The kind of life insurance product that covers children under their parent's policy is Term rider. Thus option B is Correct.

What are the benefits of life insurance?

The benefit of life insurance is that By purchasing life insurance, you can guard your family members from the potentially serious financial losses that could arise in the event of your death.

The death benefit can be periodically increased for a specified amount of time by adding a term life insurance rider to a permanent life insurance policy.

Insurance riders are cost-effective add-ons that you can select in addition to your life insurance policy.

Therefore, option B is appropriate.

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What is the simplest form of democracy?

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The most basic type of government is direct democracy, in which citizens decide on various policies on their own without the assistance of a representative or middleman.

What do you mean by direct democracy?

There are other types of direct democracy, but the referendum—in which voters are asked to cast their ballots on a particular issue directly—is the most popular and widely used. There are several different types of referendums, and each has a different name according on the jurisdiction in which it is used:

Popular referendums are typically used to ratify constitutional amendments, approve public spending, or address any international relations-related issues. An abrogative referendum, citizen referendum, or veto referendum are some names for this. Typically, a petition with a certain percentage of voters' signatures is needed for this kind of voting. Citizens frequently have the chance to repeal a provision that the representatives voted on during the abrogative referendum.

Voting is necessary once a demand has been made in an optional referendum.

Even without a signature campaign, residents are invited to vote on a variety of subjects at the confirmative referendum.

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What are the two types of public property?

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Any property within the boundaries of that is used for rights of way or any other purpose and is owned by or irrevocably offered for dedication to the federal government.

the state, the city, the county, or any other public agency is considered public property; however, any property leased by a public agency to a private entity and subject to taxation under Section of the Act is taxed and classified in accordance with its use. Public Property includes all public property that is within the institution's reasonably contiguous geographic area, such as a sidewalk, a street, other thoroughfare, or parking facility, and is adjacent to a facility owned or controlled by the institution if the facility is used in direct support of, or in a manner related to, the institution's educational purposes.

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What happens in a political campaign?

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Candidate and political party preparation and presentation of ideas and viewpoints to voters before the election day is known as an election campaign.

Contestants employ a range of strategies, such as traditional and new media, public gatherings, written materials, or other methods, to connect with voters and spread their messages. In some nations, giving contenders access to public media or space for these uses is considered an indirect public campaign. Legal definitions frequently include the dates of an official election campaign period, which is typically a month or more before election day. In many nations, there will be a "black-out period" right before voting starts because the legal window for campaigning will stop a day or two before election day.

A democratic election requires an informed, free, and fair vote, as well as a chance for candidates to garner support and inspire supporters to assist them in winning office. The accomplishment of those objectives depends on election campaigns. Genuinely competitive elections provide equal opportunities for candidates to present their positions to voters and compete for their support. Election campaigns give candidates and political parties the chance to communicate with voters, empowering them to make informed choices on election day.

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What is the difference between Indian and western philosophy?

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Indian philosophy emphasizes the interconnectedness of all things in a world of suffering and impermanence, while Western philosophy is more focused on the pursuit of truth, knowledge, and rational thought.

The Contrasts Between Indian and Western Philosophy: Exploring the Different Perspectives

Indian philosophy is often more spiritual, while Western philosophy is based more on logic, reason, and evidence.

The philosophical traditions of India and the West have been around for centuries and have shaped the way we think today. While both have a long history, there are notable differences in their approaches and understandings of the world. This essay will explore the contrasts between Indian and Western philosophy, highlighting the different perspectives that each tradition offers.

Indian philosophy stresses the interconnectedness of all things and the concept of suffering and impermanence. It is heavily influenced by spiritualism and is more focused on understanding the relationship between the physical and the metaphysical. Indian philosophers such as the Buddhists, Jains, and Hindus have developed complex theories that explain the human experience from a spiritual perspective. They focus on understanding the cyclical nature of life and the idea of karma, or the consequences of one's actions.

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How do I prove my Selective Service registration?

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Within 90 days of registering, Selective Service will mail each man who has registered with the Selective Service System a registration acknowledgement letter and a registration card. You can use this as verification of your registration when requesting state-based aid in 31 states.

You must still register with Selective Service, yes. Almost all men—even those who think they won't need to serve—must register with Selective Service. Men called for induction would be entitled to request deferments, postponements, or exemptions from service in the case of a draft.

The Selective Service System is still in place in case it becomes necessary to protect national security, even though the draft was abolished when the United States switched to its present all-volunteer military following the Vietnam War. All male civilians between the ages of 18 and 25 are required to register, ensuring that the draft can be promptly reinstated if necessary.

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The market inefficiency of a negative production externality will be eliminated if a policy is put in place that results in which of the following outcomes?
answer choices
- the level of output produced is maximized
- the marginal benefit of production is maximized
- the marginal cost of production is minimized
- the marginal social benefit of production exceeds the marginal social cost
- the marginal social benefit of production is equal to the marginal social cost

Answers

The market inefficiency of a negative production externality will be eliminated if a policy is put in place that results in the marginal social benefit of production being equal to the marginal social cost, Option D

What is the marginal social benefit of production?

Generally, If a policy is put in place that results in the elimination of the market inefficiency of a negative production externality, then the outcome would be that the marginal social benefit of production is equal to the marginal social cost.

This means that the cost of producing the goods or services, including the negative externalities, is fully reflected in the price of the goods or services, and the level of production will be at the point where the marginal social benefit is equal to the marginal social cost.

This will ensure that the overall social welfare is maximized, as the benefits of consuming the goods or services are balanced against the costs, including the negative externalities.

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What are the 7 articles of the Bill of Rights?

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The 7 articles of the Bill of Rights explain the rights of the people of the United States in relation to their government. The seven articles out of ten amendments are stated below:

What do the 7 articles of the US constitution address?

The responsibilities of the Executive Branch, the Legislative Branch, and the Judicial Branch are covered in the Articles of the US Constitution. The papers also cover the constitutional amendment process and the distinction between federal and state legislative authority. The fundamental elements of how the country should be administered are outlined in its seven articles. Its seven parts explain the core components of how the framers wanted the government to run the country. The seven main articles of the Bill of Rights are:

Amendment I Freedoms, Petitions, Assembly

Amendment II. Right to bear arms.

Amendment III. Quartering of soldiers.

Amendment IV. Search and arrest.

Amendment V. Rights in criminal cases.

Amendment VI. Right to a fair trial.

Amendment VII. Rights in civil cases.

Amendment VIII. Bail, fines, punishment.

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Which of the following is an example of evidence that points to how social factors can explain health disparities across subpopulations?

A. Research by Currie, Greenstone, and Moretti that studied environmental "superfund" sites to isolate environmental factors, which found that children born after the environmental cleanup were less likely to become ill than those born before
B. Research by David Williams that showed a link between the day-to-day stress of racism and discrimination on stress-related disease among African-Americans
C. Studies that suggest that different cultural values and norms related to hygiene can explain different health indicators across subpopulations
D. Studies that link genetic factors to the incidence of certain diseases to subpopulations, such as sickle-cell anemia among African-Americans

Answers

The  social factors which can explain health disparities across subpopulations are - . Research by David Williams that showed a link between the day-to-day stress of racism and discrimination on stress-related disease among African-Americans.

Hence, Option B is correct.

A subpopulation is essentially a fraction or subset of the overall population pool being surveyed. A subpopulation can be defined in a variety of ways. Gender (e.g., male and female), age (e.g., 35, 35-54, 55+), race/ethnicity, location, and so on are some of the most common subpopulations to investigate in research.

Population is limited.Population is infinite.Existing populace.Population Hypothesis.

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Companies often merge to ______ monopoly power.

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Companies often merge to increase monopoly power. Monopolies have the benefit of guaranteeing a steady supply of a good that is too costly to be sold in a competitive industry. A business can safely invest in innovation by having a monopoly and remaining independent.

Monopoly power is the ability of a single company or small group of companies (referred to as a monopolist) to set prices in a single market. When a single company is the sole provider of a product or service in a given market sector, this is referred to as a monopoly. Monopoly power is derived from economies of scale, locational advantages, high entry costs, restricted ownership of key inputs, and government restrictions such as exclusive franchises, licensing and certification requirements, and patents.

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What is a real life example of comparative advantage?

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If a nation is adept at manufacturing both cheese and chocolate, it may choose how much work is required for each product. This nation has a comparative advantage in producing chocolate if it takes one hour of labor to make 10 units of cheese and one hour of labor to produce 20 units of chocolate.

What is the nation?

Although the phrases nation, state, and country are sometimes used interchangeably, there is a distinction between them. A state is a self-governing political entity (notice the capital "S"). Country and State are both interchangeable terms. However, a nation is a closely-knit community of people who share a culture.

Due to its favorable temperature and abundance of land ideal for dairy cows, Ireland, for instance, has a competitive edge in the production of cheese and butter. Due to its abundant labor supply, China has a comparative edge in the electronics industry.

Therefore, A nation that excels at producing both cheese and chocolate can decide how much labor is needed for each product.

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Before georgia, virginia, texas, and mississippi had fulfilled the conditions for readmission, congress ______.

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Before Georgia, Virginia, Texas, and Mississippi had fulfilled the conditions for readmission, Congress added ratification of the Fifteenth Amendment as a requirement of readmission.

How was the 15th Amendment ratified?

By a vote of 39 to 13 on February 26, 1869, the Senate approved the 15th Amendment. Georgia, Iowa, Nebraska, and Texas, however, ratified the amendment in February 1870, bringing the total number of ratifying states to twenty-nine, one more than the necessary twenty-eight ratifications from the thirty-seven states and preventing any legal challenge to New York's decision to withdraw its consent.

The Fifteenth Amendment, the last of the so-called "Reconstruction Amendments," prohibited denying or restricting voting rights based on race, color, or past servitude. The right to vote for African-American men was guaranteed by the 15th Amendment. African Americans started running for office and casting ballots almost immediately after ratification.

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your text lists several explanations for why the united states has the highest inequality of all english-speaking nations. which of the following is an explanation your text cites? a. a cultural aversion to raising taxes b. racism within u.s. borders c. feudalism in u.s. history d. diverse state-level policies

Answers

The united states has the highest inequality of all english-speaking nations is a cultural aversion to raising taxes.

Hence Option A is correct

Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Taxes play a crucial role in helping governments finance a range of projects, including infrastructure, wars, and public works. Taxpayer funds are still utilized for a number of related reasons today.You must pay a certain amount to the government as tax so that it may fund public services like roads and schools. On the retail sale of a few goods and services, the government introduced a new tax. On the acquisition of a commodity, a retail sales tax is charged.

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Who is the religious leader of theocracy?

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Religious leaders Many theocracies have a legal system based in religious law and political authorities who are part of the clergy. Early civilizations frequently had theocratic government.

What are the laws of religion?

Law in religious legal systems is derived from the books or traditions of a particular religion. Many Islamic countries have complete or partial legal systems that are based on the Quran. Legal systems that combine two or several of the aforementioned legal systems are referred to as mixed legal systems.

What country's legal system is governed by religion?

Theocracy is the use of power even by clergy or people of a specific religion, typically, but not always, claiming to be working primarily on favor of a deity and ruling in accordance with the theocratic principles.

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Who is Adam Smith and what did he do for industrial revolution?

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Law, moral philosophy, criticism, rhetoric, and agriculture were among Smith's many areas of interest. With his theories on the division of labor, specialization and trade, and the size of the market, he addressed the core of the industrial revolution and sowed the germ that has grown into the great social science of economics.

Who is Adam Smith and what is he known for?

Scotland's Adam Smith was a philosopher of the 18th century. He is revered as the founding figure of modern economics. The Wealth of Nations, written by Smith in 1776, is his most well-known work. Philosophers, authors, and economists of the 20th century analyzed Smith's writings. Smith made significant contributions to management theory in the areas of specialization and division of labor.

A worker specialized in carrying out one activity that was a component of a longer list of duties that would result in the production of a product thanks to the division of labor. Smith was the first to understand that economics should focus on both the production and distribution of wealth.

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inequality is reproduced through cultural capital because

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Social inequality affects people who lack cultural capital. Someone will not be accepted inside a group or community and will not have access to help and resources if they lack the cultural knowledge and skills necessary to navigate the social world they inhabit.

The four types of capital identified by Pierre Bourdieu all contribute to social reproduction since they are passed down from one generation to the next and maintain social classes. This continues to reproduce inequality through the social stratification system.

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which of the following defines a minority group? group of answer choices a subordinate group whose members lack access to valued resources in a society a group that is set apart from others because of its national origin or distinctive cultural patterns a group that has recently arrived in their current nation of residence and has relatively few members a group that is set apart from others because members possess physical differences that have taken on social significance

Answers

A minority group is a subordinate group whose members do not have equal access to valuable resources in society.

What is a minority group?

The word "minority group" has several meanings depending on the context. A minority group, according to popular use, may simply be interpreted in terms of demographic proportions within a population: a group in society with the fewest persons is thus the minority. However, in terms of sociology, economics, and politics, a group that constitutes the smallest proportion of the population is not always the'minority'. In academic circles,'minority' and'majority' groupings are better understood in terms of hierarchical power systems.

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An antecedent stimulus that evokes the imitative behavior is:

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An antecedent stimulus that evokes the imitative behavior is model

Four behavior-environment relations are used to characterize imitation: All physical movements may serve as models for imitation (the model is an antecedent stimulus that elicits imitation behavior); imitation behavior must occur soon after the model is presented; and imitation behavior must be reinforced by the model. A. sensations that result from a match between the model's behavior and the imitator's behavior and serve as reinforcers (automatic reinforcing stimuli that are different from any reinforcement by model)

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What is the first indication that Claudius gives of his guilt?

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Answer:

Claudius shows the first sign that his conscience is getting to him- perhaps he is feeling guilty for his crime. He describes his lies as "painted words" covering up his crime, and compares himself to a "harlot" who plasters her cheeks with makeup to cover her sins.

Explanation:

Threat Awareness and Reporting Procedure (TARP)

Answers

An Army regulation known as the Threat Awareness and Reporting Program (TARP) creates a requirement for Department of Army personnel and sets forth policy and duties for threat awareness and education.

A requirement for Department of Army personnel to report any incident of known or suspected espionage, international terrorism, sabotage, subversion, theft or diversion of military technology, information systems intrusions, and unauthorized disclosure of classified information is established by the Army regulation known as the Threat Awareness and Reporting Program (TARP).

All U.S. Army active duty soldiers, Department of the Army civilians, and all supporting contractors are required to complete this training each year. Since all training is monitored at the unit level, it is recommended that each unit select a person to check on the attendance of its employees since a sign-in roster is not kept for each briefing.

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How are an interval and a segment different? a. An interval measures two waves, while a segment measures only one wave. b. An interval is a flat area of the tracing, while a segment includes waves and flat sections. c. An interval and a segment are interchangeable terminologies. d. An interval measures at least one wave and one flat area, while a segment includes only a flat area of the tracing.

Answers

A way an interval and a segment different is: An interval determines at least one wave and one flat area, meanwhile segment consists only a flat area of the tracing. The correct answer is option D.

An interval or known also as open interval is a set of points on a line lying among two fixed points A and B, where A and B themselves are examined not to belong to the interval. A segment or known also as closed interval is a set of points among two points A and B, where A and B are comprised.

ECG intervals are unalike from the ECG segments. The ECG segment indicates the elevation and the depression of the wave, while the ECG intervals indicate the duration of the time.

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What are the 3 power of the president?

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The three powers of the president are to propose legislation to Congress and sign and veto bills, submit the annual budget to Congress and represent the country in foreign relations.

It is true that the Constitution bestows many powers to the Congress. Relatively, the Constitution gives fewer powers to the president.  However, it shall be noted that the powers of the president are not confined to those granted in the Constitution.

Major powers can be headed under Legislative powers, Appointment powers and Treaty powers.

Legislative powers include the power of the POTUS to propose new legislations.

Treaty power means the authority that the president holds while negotiation with other states on international treaties.

Appointment powers include the power to select people for the wide range of offices in the government.

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How is the 8th Amendment used today?

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The Eighth Amendment's clause against "cruel and unusual punishment" has been invoked in cases where convicts have been subjected to horribly filthy cells, overcrowding, inadequate medical attention, or willful neglect on the part of staff members who are supposed to be protecting them.

Does the 8th Amendment have any current application?Because it guarantees that all citizens' rights—including those of those who commit felonies and engage in criminal behavior—are protected, the eighth amendment is essential to the U.S. Constitution. The English Bill of Rights, which was written in 1689, is where the eighth amendment originates.Examples of the 8th Amendment include excessive bail amounts or fines, excessive use of force or cruel treatment, unsafe and unhygienic conditions in prison, and more.The Eighth Amendment's clause against "cruel and unusual punishment" has been invoked in cases where convicts have been subjected to horribly filthy cells, overcrowding, inadequate medical attention, or willful neglect on the part of staff members who are supposed to be protecting them.      

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what was one field of study that was founded by islamic scholars during the islamic golden age?

Answers

Scientists advanced the fields of algebra, calculus, geometry, chemistry, biology, medicine, and astronomy. Many forms of art also flourished during the Islamic Golden Age, including ceramics, metalwork, textiles, illuminated manuscripts, woodwork, and calligraphy.

an athlete wants to increase his endurance and focus. which cross-training activities will help him reach this goal?a. push-ups and timed sprintsb. long-distance running and yoga posesc. balance drills and divingd. sit-ups and visualizing

Answers

Option b) long-distance running and yoga poses cross-training workouts will help an athlete want to increase his endurance and focus.

Cross-training is athletic training in a sport other than the athlete's regular sport. The goal is to improve overall performance. It exploits the specific benefits of one training method to counteract the shortcomings of another.

Long-distance running helps one to increase one’s endurance level while Various yoga poses are great for recovery as they can increase flexibility and prevent injury.

This way, long-distance running and yoga poses cross-training workouts will help an athlete to increase his endurance and focus.

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What are 3 things Anti-Federalists believe?

Answers

They pushed for increased personal freedom, effective local and state governments, restrictions on the power of the federal government, and term limits for elected officials. They also supported holding direct elections for public officials.

What is anti-federalism?

In the United States in the late 18th century, anti-federalism was a political movement that opposed the establishment of a stronger federal government. It also opposed the passage of the Constitution of 1787. The previous constitution, the Articles of Confederation and Perpetual Union, provided state governments more authority. Virginian federalist Patrick Henry was worried that the presidency would someday become a monarchy. The Bill of Rights was enacted when the Constitution was founded and the Articles of Confederation were superseded, despite anti-federalist demonstrations.

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What are 3 implied powers of Congress?

Answers

In order to carry out its specified duties, Congress has the power to enact laws that it deems "necessary and proper."

Define Inflexible Clause?

However, Article I, Section 8, Clause 18, which gives Congress the ability, is where Congress derives its contentious implied authority to create laws that seem to lack specificity.

This so-called "Necessary and Proper Clause" or "Elastic Clause" gives Congress authority over matters that are deemed necessary to carry out the 27 authorities stated in Article I even though they are not expressly mentioned in the Constitution.

What exactly are constitutional powers?

The power to enact laws, which is Congress's most significant power, is expressly granted by the Constitution. A BILL, or proposed bill, cannot become a law unless it has been adopted in its whole by both the House of Representatives and the Senate.

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do you think it is beneficial to have a good buyer trader relationship? How does it help?

Answers

Answer:

Yes,a positive relationship can lead to reducing procurement costs, as once the relationship has been built, the supplier may favour your business and offer you incentives to ensure that you stay as a customer.

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