When Did the Percentage of Federal Grants in State and Local

question 8

Multiple Choice

When did the percentage of federal grants in state and local expenditures reach its peak?

• A) 1960s
• B) 1970s
• C) 1980s
• D) 1990s

---

Definitions:

Shortage Costs

Costs incurred by a business when the demand for its products exceeds its supply, often leading to lost sales and customer dissatisfaction.

Short-term Financial Policy

Guidelines or strategies focused on managing a company's current assets and liabilities to ensure short-term operational needs are met.

Carrying Costs

Expenses associated with holding inventory, including storage, insurance, and opportunity cost of tied-up capital.

Shortage Costs

Costs incurred from not having enough inventory on hand, including lost sales and emergency shipping expenses.