What is an example of a power only the national government can exercise?

The ability to coin money is an exclusive power of the national government, rooted in Article I, Section 8, of the U.S. Constitution. This power is reserved for the national government to ensure the stability and uniformity of currency across the entire country, which is critical for a functioning national economy. By centralizing the control of money, the national government can manage fiscal policy, govern monetary supply, and facilitate interstate commerce.

In contrast, passing laws is a general power that both the national and state governments share, as both can create legislation within their respective jurisdictions. Conducting elections is primarily the responsibility of state governments, as outlined in the Constitution, which gives states the authority to regulate the administration of elections. Regulating local businesses also falls under the purview of state powers, as states manage commerce and regulations within their own borders. This distinct separation of powers reflects the foundational concept of federalism, wherein specific responsibilities are allocated to different levels of government to prevent overreach and maintain a balance of authority.