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Question

What do you mean by "Fiscal Federalism"?

[A] It refers to the devolution of power and responsibilties of national, sub-national, and governments
[B] It refers to the financial relations between units of governments in a federal government system
[C] It is the amount of money that households have availalbe for spending and saving after income taxes have been accounted for
[D] It states that when per capita income increases above the minimum specific level, population tens to increase
Answer & Explanation

Answer: It refers to the financial relations between units of governments in a federal government system