In the United States,the Relationship Between a State and Its

question 40

Multiple Choice

In the United States,the relationship between a state and its local governments is best characterized as a(n) __________ system.

• A)unitary
• B)federal
• C)restrictive
• D)cooperative

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Definitions:

Floatation Costs

The costs that a company incurs when it issues new securities, including underwriting fees, legal fees, and registration fees.

Disposable Income

The amount of money that households have available for spending and saving after income taxes have been accounted for.

Personal Income

The total amount of income received by individuals from all sources, including wages, dividends, interest, and government transfers, before any deductions.

Net Taxes

The difference between taxes paid to the government and transfer payments received from the government.