Why do state and local governments go into debt?
What is a municipal bond?
How does a municipal bond differ from a corporate bond?
What is Net Interest Cost (NIC) and how does it differ from True Interest Cost (TIC)?
What role does TIC play in governmental capital project financing?
5. (TCO E) What is the purpose of a tax system? One of the basic criteria that is considered when a tax system is evaluated is the equity standard.
Please provide your interpretations of these items: 1. Purpose of a tax system and 2. Equity (Points : 25)
1. (TCO A, B) What is the meaning of a budget format? Governmental budgets may be organized in line-item, program, and performance formats. What are the differences among these three approaches? Make an argument that builds a case for hybrid presentations that includes all three elements. (Points : 25)
2. (TCO A, B) Our text addresses the federal deficit and relevant laws and measures for controlling and preventing deficits. Please explain each of these measures in detail. These areas are (1) debt limits; (2) aggregate budgeting; (3) targets and enforcement; and (4) spending controls, PAYGO, and adjustable deficit targets. (Points :