The principle for sharing the wealth of the nation among the different levels of government is called
Answer Details
Revenue allocation is the principle for sharing the wealth of the nation among the different levels of government. This is the process of distributing the revenue generated by the central government to the state and local governments. The revenue allocation formula is usually determined by a federal government committee which takes into account factors such as population, land mass, internally generated revenue, and other criteria. The objective of revenue allocation is to ensure that each level of government has the resources it needs to provide services and improve the well-being of its citizens.