America is a Hegemonic Power in Decline True or False?

False. A hegemonic power is an entity or state that sets the rules for all others to follow. As you illustrated, the US still sets the "rules of the game" or makes up the rules for the rest of the world to follow. We will see, however, a rise of a several other powers in our lifetimes and the world will become multipolar (as opposed to unipolar). Everyone looks at the bad times, but the US has survived revolutions, invasions, depressions, and has prevailed through the darkest of times. We will again.