In Addition to Calling for the Consolidation of Categorical Grants

question 11

Multiple Choice

In addition to calling for the consolidation of categorical grants, President Nixon proposed replacing these programs with revenue sharing

• A) to make the states more responsible for federal policy.
• B) to take state income tax money and put it into a shared pot.
• C) to allow recipients to use the money as they saw fit.
• D) to make sure income tax money was split evenly.
• E) to divide up funds with other state governments.

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.

Return on Total Assets

This metric evaluates a company's efficiency in using its assets to generate profit, calculated by dividing net income by total assets.

Interest Expense

The cost incurred by an entity for borrowed funds, typically reported on the income statement.

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income.