What Was the Dominant Form of Federalism Prior to the New

question 8

Multiple Choice

What was the dominant form of federalism prior to the New Deal?

• A) dual
• B) combined
• C) competitive
• D) cooperative

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Definitions:

Profits

The financial gain realized when the revenue from business activities exceeds the expenses and costs.

Financial Ratios

Calculations that compare important financial aspects of a business.

Equity

The value of an ownership interest in a business, after subtracting liabilities from assets.

Leverage

The use of borrowed capital for (an investment), expecting the profits made to be greater than the interest payable.