Which type of a phrase is "on top of the world"? noun phrase adjectival phrase adverbial phrase prepositional phrase

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The phrase "on top of the world" is an example of a prepositional phrase. A prepositional phrase consists of the preposition and the noun which is its object. The preposition used in this phrase is "on" while the object is the word "world".  A prepositional phrase can function both as adjective phrase or adverb phrase to modify a word. 

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