Final answer:
The shared power between state and federal governments is raising taxes, which is a concurrent power. Both layers of government can levy taxes on individuals and companies.Option C is the correct answer.
Step-by-step explanation:
The shared power between state and federal governments that is listed in the options provided is C. Raising taxes. Both state and federal governments have the authority to levy taxes on individuals and businesses. This is known as concurrent powers, which means that these powers are shared between the different layers of government. Concurrent powers include a range of responsibilities from taxing, borrowing money, and making and enforcing laws to establishing court systems.
The shared authority to raise taxes is a crucial example of concurrent powers between state and federal governments, denoted as option C. Both levels of government possess the right to impose taxes on individuals and businesses, highlighting the concept of concurrent powers, where responsibilities are jointly held. Alongside taxation, concurrent powers encompass diverse functions such as borrowing funds, legislating, law enforcement, and establishing court systems. This division of powers ensures a balanced and cooperative governance structure between state and federal entities in addressing the multifaceted needs of the nation.