Which of the Following Statements Best Describes the History of American

question 79

Multiple Choice

Which of the following statements best describes the history of American federalism?

• A)There has always been a clear allocation of responsibilities between the states and the federal government.
• B)Since the Founding,there has been considerable debate about the allocation of responsibilities between the states and the federal government.
• C)Debates over the responsibilities allocated to the states and to the federal government ended with the Civil War.
• D)Debates over the responsibilities allocated to the states and to the federal government ended immediately after the Great Depression.

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Definitions:

Factors of Production

The resources used in the creation of goods and services, traditionally categorized into land, labor, capital, and entrepreneurship.

Opportunity Cost

The real cost of an item: what you must give up in order to get it.

Explicit Cost

Direct, out-of-pocket payments for expenses incurred in business operations, such as wages, rent, and materials.

Monetary Cost

The amount of money that must be paid or spent to acquire goods, services, or assets.