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Discussing Public Finance

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What are the main areas of responsibility of the federal, state, and local governments? In what ways are they similar? How are they different? Provide examples.

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The federal government's main area of responsibility is to oversee the matters of national importance, such as national defense and security, foreign relations, macroeconomic policies, national laws and regulations pertaining to areas like labor, healthcare, etc. State government's main areas of responsibilities pertain to matters important for the state, ...

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