Federal ______ Grants for Community Development Activities Give States and Local

question 8

Multiple Choice

Federal ______ grants for community development activities give states and local governments an amount of money to conduct the activities with more flexibility to determine how the money is spent.

• A) categorical
• B) regulatory
• C) block
• D) stimulus

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Definitions:

Perfect Substitutes

Goods or services that can be used in place of one another with no loss of utility or satisfaction.

Income Effect

Refers to adjustments in consumer behavior as a result of changes in purchasing power, influencing the demand for products and services.

Substitution Effect

The change in consumption patterns due to a change in relative prices, where consumers substitute a cheaper alternative for a more expensive good.

Price

The cash value expected, required, or contributed in transaction for an item.