Changes in the Value of Currencies

question 15

Multiple Choice

Changes in the value of currencies:

• A)occur only in floating currency systems.
• B)can occur in floating currency systems,in managed floating systems,and even in fixed systems.
• C)occur only in floating and managed floating currency systems.
• D)occur uniformly in all currency systems.

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Definitions:

General Revenue Sharing

A federal program in the United States (1972-1987), which provided state and local governments with unrestricted funds to be used at their discretion for a wide range of public purposes.

Block Grants

Financial assistance provided by the federal government to state or local governments for broad purposes, with relatively few restrictions on how the funds may be spent.

Categorical Grants

Funding from the federal government to state or local governments for specific purposes and subject to detailed conditions.

New Federalism

A political philosophy of devolution, or the transfer of certain powers from the United States federal government back to the states, initiated in the 1970s.