Final answer:
The phenomenon experienced by many core cities in which they face reduced tax revenue while also facing higher demand for social services and infrastructure maintenance is referred to as capital flight.
Step-by-step explanation:
The phenomenon experienced by many core cities in which they face reduced tax revenue while also facing higher demand for social services and infrastructure maintenance is referred to as capital flight.
Capital flight occurs when more affluent residents abandon the city, leading to a decline in tax revenue.
This often happens due to factors such as suburbanization and gentrification. When people move to the suburbs, the city's tax base decreases, resulting in financial challenges for the city.