Solution:
Sources of revenue for each level of government are clearly specified to ensure its financial autonomy is true regarding sources of revenue in a federal system.It is accurate to say that in a federal system sources of revenue for each level of government are clearly specified to ensure its financial autonomy. The terms ‘federal system’ relate to both the federal and state levels of government. Each level of government, whether federal, state, or municipal, must carry out certain responsibilities alone, hence each has its own financial independence. Federalism is a form of government in which a central authority and numerous national constituent parts share power. A federation often has two levels of governance. One is the national government, which oversees a few issues of general importance to the entire nation..
