Fill in the blanks
The Texas _____ lacks flexibility in government financing.
Answer: Tax Code
A rise in the general price level, which is the same thing as a fall in the value of the dollar.
Answer: Inflation
Approximately what percentage of the Texas state revenue comes from the national government?
A.32%
B.28%
C.41%
D.37%
D.37%
Texas’s expenditures for business and economic development has allocated in Education with 37.4% of its funds or
Answer: $94 Billion
Texas spends most of its state revenue on Health and Human services.
Answer: False
Texas has historically relied heavily on ________ as a major source of revenue for the state's economy.
Answer- oil and natural gas
What term describes the flexibility and breadth of the tax system so that state revenues are not seriously disrupted even if one segment of the economy is troubled?
Answer: Elasticity
What was the unemployment rate in Texas in April 2011?
A) 6.5%
B) 7.2%
C) 8.1%
D) 9.5%
C) 8.1%
How much aid did Texas receive from the federal government stimulus package to mitigate the economic downturn caused by the COVID-19 crisis?
Answer: $1 billion
General revenue sharing, a federal program that allowed state and local governments great flexibility in the use of federal funds, is still active and available for states as of 2024.
Answer: False
The constitution makes the legislature responsible for the ____ budget.
Answer: State
The budget year for a government or a corporation; it may not coincide with a calendar year.
Answer:Fiscal Year
What is the largest category of expenditures?
A) Public safety
B) Natural resources
C) General government
D) Regulatory agencies
A) Public safety
How much money was the state's debt ceiling limited to in its original form?
Answer: $200,000
The pattern of raising money in Texas, as described, involves increasing fees, seeking revenue from gambling, and manipulating state pension funds due to the unpopularity of taxes.
Answer: True
Texas government, and the special federal funds allocated because of the _______ crisis.
Answer: Covid-19
Federal funds that can be used only for specific purposes.
Answer: categorical grants-in-aid
In 2020, COVID-19 nearly shut down the Texas economy causing?
A. Spike in unemployment and decrease in tax revenue
B. Spike in jobs
C. Decrease in unemployment
D. Dance battle
A. Spike in unemployment and decrease in tax revenue
What was the money deficit that the 2003 sessions started with?
Answer: $10 Billion
4. The general revenue fund supports the majority of state programs
Answer: True
The legislature began its 2003 session with a ____ deficit.
Answer- $10 billion
A grant from the central government which a local authority can allocate to a wide range of services.
Answer- Block grant
General retail tax is mostly collected by what?
A. People
B. Federal grants
C. Retail merchants
D.Public funds
C. Retail merchants
What year did general revenue sharing end for states?
Answer- 1979
A four-fifths vote of the legislature is needed to approve emergency borrowing.
Answer- True