Explain the doctrine of federal preemption
What will be an ideal response?
The Supremacy Clause of the U.S. Constitution is the basis for the doctrine of federal preemption, a constitutional doctrine stating that in an area in which federal regulation is pervasive, state legislation cannot stand. This doctrine is used to strike down a state law that, although it does not directly conflict with a federal law, attempts to regulate an area in which federal legislation is so pervasive that it is evident that the U.S. Congress wanted only federal regulation in that general area. It is often said that in these cases that federal law "preempts the field." Cases of federal preemption are especially likely to arise in matters pertaining to interstate commerce, such as when a local regulation imposes a substantial burden on the flow of interstate commerce through a particular state.
You might also like to view...
Marketing research provides information collected only on consumers. Information collected on other entities such as employees, members of distribution channels, or competitors would not be considered marketing research
Indicate whether the statement is true or false
Gates, Inc. and Markham, Inc. each had the same financial position on January 1, Year 2. The following is a summary of each of their balance sheets on that date: Current assets$330,000 Non-current assets 2,970,000 Current liabilities 165,000 Non-current liabilities 1,815,000 Common stock 907,500 Retained earnings 412,500 Gates is about to raise $200,000 in cash by issuing bonds. Markham is going to raise $200,000 on the same day by issuing common stock. Immediately after these transactions, which of the following statements will be correct?
A. Gates' debt to asset ratio will be higher than Markham's. B. Gates' current ratio will be lower than Markham's. C. Gates' debt to asset ratio will be lower than Markham's. D. Gates' current ratio will be higher than Markham's.
According to Maslow's hierarchy of needs, human beings have five levels of needs they are constantly seeking to satisfy. The need for love and affection is an example of one of humans' _________________ needs.
A. emotional B. safety C. social D. familial E. self-actualization
In target costing, the cost of a product is the starting point and the selling price follows from the cost.
Answer the following statement true (T) or false (F)