Question 1

With a progressive income tax,people with lower income pay a lower tax rate than people with higher income.

Accepted Answer

A) True 
 B)False

Question 2

Prior to 2003,tuition rates for public colleges and universities in Texas tended to be

Accepted Answer

A)   slightly above the national average.
B)   slightly below the national average.
C)   much higher than the national average, because Texas has no state income tax.
D)   low compared to other states.

Question 3

Because the budget process in Texas operates on a two-year cycle,Texas legislators have adequate time to gather information,carefully analyze it,and craft a detailed and accurate state budget.

Accepted Answer

A) True 
 B)False

Question 4

Texas is known as a high tax state; because of this,it is a good place to do business.

Accepted Answer

A) True 
 B)False

Question 5

There is a high sales tax in Texas of ________ percent.

Accepted Answer

A)   8.25
B)   6.15
C)   8.75
D)   6.25

Question 6

The Rainy Day Fund is more properly known as the National Research University Fund.

Accepted Answer

A) True 
 B)False

Question 7

A ________ is a tax on the market value of oil produced in the state.

Accepted Answer

A)   general sales tax
B)   selective sales tax
C)   severance tax
D)   hidden tax

Question 8

The State Highway Fund comes from what source(s) ?

Accepted Answer

A)   motor vehicle registration fees
B)   the federal highway fund
C)   sales tax on motor lubricants
D)   All of these are correct.

Question 9

The Permanent School Fund distributes money to school districts across the state based on what two factors?

Accepted Answer

A)   the number of schools in a district and student attendance
B)   student attendance and guaranteed bonds issued by local school boards
C)   the number of teachers and test scores
D)   teacher availability to student ratio and test scores

Question 10

Identify four types of taxes in Texas and the regressive aspects of the Texas tax system.

Accepted Answer

a.Current tax state: Governments in Texa...

Question 11

Federal matching funds are

Accepted Answer

A)   state monies going to support the federal government in its efforts to reduce the deficit.
B)   monies going to a state based on a state spending for a program.
C)   always distributed to states without any strings attached.
D)   only awarded to states that have an income tax.

Question 12

Explain the strengths and weaknesses of the budgetary process in Texas.

Accepted Answer

a.Strengths: The state constitution mand...

Question 13

What is the argument commonly used by supporters of a state income tax?

Accepted Answer

A)   It will probably be quite regressive.
B)   It is a fairer but highly unreliable source of revenue.
C)   It makes Texas more attractive to businesses that are considering relocating from out of state.
D)   It is a fair and more reliable source of revenue.

Question 14

________ is a nondedicated revenue account and is the state's primary operating fund.

Accepted Answer

A)   General Revenues Funds budget
B)   General Revenue-Dedicated Funds budget
C)   Federal Funds budget
D)   Other Funds budget

Question 15

The Legislative Budget Board's draft budget,NOT the governor's budget,is the one voted upon by the legislature.

Accepted Answer

A) True 
 B)False

Question 16

Poor homeowners and renters generally pay more of their income in property tax than do the wealthy.

Accepted Answer

A) True 
 B)False

Question 17

Who pays the greatest portion of their income in property taxes?

Accepted Answer

A)   business owners
B)   wealthy homeowners and renters
C)   poor homeowners and renters
D)   renters

Question 18

Overall,the tax system in Texas is generally considered to be regressive,which means that

Accepted Answer

A)   the tax burden consumes a greater percentage of income received by lower-income individuals.
B)   the tax burden consumes a greater percentage of the income earned by higher-income individuals.
C)   everybody pays the same percent of his or her income in taxes.
D)   the more income one has, the larger the percentage of it that goes to pay taxes.

Question 19

In addition to the state sales tax of 6.25 percent,county,city,and metropolitan transit authorities are allowed to impose an additional 2 percent sales tax.

Accepted Answer

A) True 
 B)False

Exam 11: Public Finance

The Legislative Budget Board's draft budget,NOT the governor's budget,is the one voted upon by the legislature.

Correct Answer
verified

The Permanent School Fund distributes money to school districts across the state based on what two factors?

Correct Answer
verified

What is the argument commonly used by supporters of a state income tax?

Correct Answer
verified

Explain the strengths and weaknesses of the budgetary process in Texas.

Correct Answer
verified
a.Strengths: The state constitution mand...
View Answer

There is a high sales tax in Texas of ________ percent.

Correct Answer
verified

Overall,the tax system in Texas is generally considered to be regressive,which means that

Correct Answer
verified

Prior to 2003,tuition rates for public colleges and universities in Texas tended to be

Correct Answer
verified

Texas is known as a high tax state; because of this,it is a good place to do business.

Correct Answer
verified

The State Highway Fund comes from what source(s) ?

Correct Answer
verified

________ is a nondedicated revenue account and is the state's primary operating fund.

Correct Answer
verified

With a progressive income tax,people with lower income pay a lower tax rate than people with higher income.

Correct Answer
verified

Federal matching funds are

Correct Answer
verified

Identify four types of taxes in Texas and the regressive aspects of the Texas tax system.

Correct Answer
verified
a.Current tax state: Governments in Texa...
View Answer

Poor homeowners and renters generally pay more of their income in property tax than do the wealthy.

Correct Answer
verified

Because the budget process in Texas operates on a two-year cycle,Texas legislators have adequate time to gather information,carefully analyze it,and craft a detailed and accurate state budget.

Correct Answer
verified

In addition to the state sales tax of 6.25 percent,county,city,and metropolitan transit authorities are allowed to impose an additional 2 percent sales tax.

Correct Answer
verified

The Rainy Day Fund is more properly known as the National Research University Fund.

Correct Answer
verified

A ________ is a tax on the market value of oil produced in the state.

Correct Answer
verified

Who pays the greatest portion of their income in property taxes?

Correct Answer
verified

Exam 11: Public Finance

The Legislative Budget Board's draft budget,NOT the governor's budget,is the one voted upon by the legislature.

Correct AnswerverifiedShow Answer

The Permanent School Fund distributes money to school districts across the state based on what two factors?

Correct AnswerverifiedShow Answer

What is the argument commonly used by supporters of a state income tax?

Correct AnswerverifiedShow Answer

Explain the strengths and weaknesses of the budgetary process in Texas.

Correct Answerverifieda.Strengths: The state constitution mand...View AnswerShow Answer

There is a high sales tax in Texas of ________ percent.

Correct AnswerverifiedShow Answer

Overall,the tax system in Texas is generally considered to be regressive,which means that

Correct AnswerverifiedShow Answer

Prior to 2003,tuition rates for public colleges and universities in Texas tended to be

Correct AnswerverifiedShow Answer

Texas is known as a high tax state; because of this,it is a good place to do business.

Correct AnswerverifiedShow Answer

The State Highway Fund comes from what source(s) ?

Correct AnswerverifiedShow Answer

________ is a nondedicated revenue account and is the state's primary operating fund.

Correct AnswerverifiedShow Answer

With a progressive income tax,people with lower income pay a lower tax rate than people with higher income.

Correct AnswerverifiedShow Answer

Federal matching funds are

Correct AnswerverifiedShow Answer

Identify four types of taxes in Texas and the regressive aspects of the Texas tax system.

Correct Answerverifieda.Current tax state: Governments in Texa...View AnswerShow Answer

Poor homeowners and renters generally pay more of their income in property tax than do the wealthy.

Correct AnswerverifiedShow Answer

Because the budget process in Texas operates on a two-year cycle,Texas legislators have adequate time to gather information,carefully analyze it,and craft a detailed and accurate state budget.

Correct AnswerverifiedShow Answer

In addition to the state sales tax of 6.25 percent,county,city,and metropolitan transit authorities are allowed to impose an additional 2 percent sales tax.

Correct AnswerverifiedShow Answer

The Rainy Day Fund is more properly known as the National Research University Fund.

Correct AnswerverifiedShow Answer

A ________ is a tax on the market value of oil produced in the state.

Correct AnswerverifiedShow Answer

Who pays the greatest portion of their income in property taxes?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.Strengths: The state constitution mand...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.Current tax state: Governments in Texa...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified