Judicial review by the Supreme Court is based on____________?
Correct answer: B. the Marbury v Madison decision
- A. explicit statements in the Constitution
- B. the Marbury v Madison decision
- C. an act of Congress
- D. the First Amendment to the Constitution
Explanation
The U.S. Supreme Court claimed the power of judicial review in Marbury v. Madison (1803), allowing it to invalidate laws that conflict with the Constitution. The Constitution does not expressly state this power in those words.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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