Richard Nixon's New Federalism

question 21

Multiple Choice

Richard Nixon's New Federalism:

• A) proposed a decrease in funding for Social Security.
• B) called for a reduction in all government spending and a balanced budget.
• C) proposed that a system of block grants be assigned to states to spend as they saw fit.
• D) demanded that the federal government administer all aid, even on the local level.

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Definitions:

Provisions

Liabilities of uncertain timing or amount, set aside in a company’s financial statements to cover anticipated losses or obligations.

Events

Occurrences or actions that can have an impact on the operational, financial, or legal standing of an organization.

Capital Balances

The amount of funds contributed by owners or the net assets available in a business after liabilities have been subtracted.

Net Income

The amount of earnings after subtracting all costs and expenses from revenue, including taxes and other deductions. Representing a company's profit over a specified period.