Time-dependent density-functional theory (TDDFT) is a powerful tool to study the non-equilibrium dynamics of inhomogeneous interacting many-body systems. Here we show that the simple adiabatic local-spin-density approximation for the time-dependent exchange-correlation potential is surprisingly accurate in describing collective density and spin dynamics in strongly correlated one-dimensional ultracold Fermi gases. Our conclusions are based on extensive comparisons between our TDDFT results and accurate results based on the adaptive time-dependent density-matrix renormalization-group method.
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