The term "fiscal federalism" refers to
A)deficit financing of government programs.
B)the power of Congress to tax and to determine how tax revenues are spent.
C)transferring money between levels of government (for example, from a state government to a local government).
D)the system under which governments ask citizens to vote on major revenue-raising measures (for example, on issues of municipal bonds).

Question

Quizplus · Accepted Answer

Fiscal federalism refers to the transfer of money between levels of government. It involves the distribution of financial resources and responsibilities among different levels of government in a federal system, such as between the federal government and state or local governments. This helps to ensure that resources are allocated efficiently and effectively, and that different levels of government are able to meet their various fiscal obligations.

The Term "Fiscal Federalism" Refers to