Local Officials Express Concern That Neither Their Policy-Making Power nor Their

question 34

True/False

Local officials express concern that neither their policy-making power nor their financial authority has kept pace with the increased administrative responsibilities placed on them by state governments.

---

Definitions:

MB = MC Rule

A principle in economics that states the optimal level of an activity is reached when the marginal benefit (MB) is equal to the marginal cost (MC).

Interest Rates

The cost of borrowing money, typically expressed as a percentage of the total amount loaned, which can influence economic activity and monetary policy.

Land Rent

The price paid for the use of land or real estate, often determined by its location, size, and utility.

Surplus Payment

Payment or benefit received that exceeds the minimum amount necessary for the transaction or exchange to occur.