Local Governments in the United States ______

question 69

Multiple Choice

Local governments in the United States ______.

• A) do not exercise independent, constitutional authority because they are not mentioned in the Constitution
• B) were protected in the Constitution because of arguments the Antifederalists made about democracy working best at the local level
• C) have little actual policy-making responsibility in the United States and are merely ceremonial
• D) were abolished in the Constitution to create consistent policies across the country

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Definitions:

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.

Inelastic Demand

This economic concept describes a situation where the demand for a product does not significantly change with the price change.

Contribution Margin

A financial metric that represents the amount of revenue from sales that exceeds variable costs, used to cover fixed expenses and generate profit.

Unit Variable Cost

The cost associated with producing one additional unit of product, which includes labor, materials, and other variable expenses.