The powers held by the states include those that are________________?
Correct answer: A. reserved
- A. reserved
- B. delegated
- C. confederate
- D. legislative
Explanation
Reserved powers are powers retained by the states under the federal arrangement. Delegated powers belong to the national government, while legislative describes a type of power rather than its constitutional allocation.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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