What Does the Tenth Principle of Economics Help Explain

question 196

Multiple Choice

What does the tenth principle of economics help explain

• A)the business cycle
• B)supply and demand
• C)trade balance
• D)money supply changes

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Definitions:

Block Grants

Federal funds provided to state and local governments for general purposes, with broad discretion on how the money is spent.

Categorical Grants

Funds provided by Congress to states and localities that are earmarked for specific purposes defined by federal law.

Tax Expenditures

Refers to revenue losses attributable to provisions of the federal tax laws which allow a special exclusion, exemption, or deduction.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate trade between the states, with foreign nations, and among Indian tribes.