Constitution of the United States Article I, Section 8 Phrase A) The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises Phrase B) to pay the Debts and provide for the common Defence and general Welfare of the United States Phrase C) but all Duties, Imposts and Excises shall be uniform throughout the United States Which phrase defines the reasons why the federal government collects taxes? Which phrase grants the federal government the power to collect taxes?.

Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.