The Term Devolution Refers to the

question 57

Multiple Choice

The term devolution refers to the

• A) shifting of power from the national government to the states and local governments.
• B) tendency of all republics to degenerate into dictatorships.
• C) inability of the people to maintain the virtue that a healthy democracy requires.
• D) process by which national governments, over time, consolidate more and more powers that had previously been reserved to states.
• E) squabbles between different levels of government that are inevitable in a federal system.

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Definitions:

Excess Supply

A situation in which the quantity of a good or service supplied is greater than the quantity demanded at a given price, often leading to a surplus.

Price Cheeseburger

The amount of money required to purchase a cheeseburger in a given market or location.

Excess Demand

A situation in a market where the quantity demanded of a good or service surpasses the quantity supplied at the current price.

Quantity Demanded

Quantity demanded is the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.