Question 1.(TCO A) Which of the
following statements describes the relationship among federal, state, and local
governments?
Question 2. (TCO A) Logrolling is
the process where:
Question 3. (TCO B) Current-dollar
government purchases were $1,250 billions in 2010. With 2000 as the base year,
assume the price deflator for 2010 is 175 (or, 1.75 if you don’t multiple by
100). In real dollars, the year 2000 government purchases would be which of the
following (rounded to the nearest billion)?
Question 4. (TCO C) The largest
portion of local government expenditures is:
Question 5. (TCO C) Appropriation
to the State Library System (fiscal year starts July 1) for fiscal year 201x
was $21,500,000.
Quarterly allotments were as
follows:
Q1 – $4,250,000
Q2 – $5,500,000
Q3 – $5,750,000
Q4 – $6,000,000
On December 31, 201X, budget
reports showed expenditures of $8,750,000 and encumbrances of $600,000. Taking
encumbrances into consideration, what is the status of Library System spending
as of December 31?
Question 6. (TCO B) List and
describe the four basic elements of the president’s budget.
Question 7. (TCO A) Name and
describe the major budget actions by Congress.
Question 8. (TCO B) Here are the
annual personal benefits of a proposed Dog Romp Zone (DRZ) as perceived by Ann
(A), Bob (B), and Chris (C):
Individual Annual Benefit
Ann $500
Bob $250
Chris $200
The overall annual total cost of the DRZ is
$600.
Does the DRZ represent a potential
Pareto improvement? Incorporating numbers into your answer, say why or why not.
(4 points)
Suppose each individual will be
assessed an equal share of the annual total cost. Will the project be approved
in a majority-rule voting process? Incorporating numbers into your answer,
explain why or why not. (8 points)
Devise a cost-allocation scheme
for A, B, and C that would ensure passage of the proposal in a majority-rule
voting process. Explain why your scheme would work. (8 points)
Question 9. (TCO B) Define and
describe the following budget terms:
• Budget
Cycle
• Executive
Preparation
• Legislative
Consideration
• Execution
• Audit
and Evaluation
Question 10. (TCO C) A community
wants to invest in new sewage treatment technology. It is estimated that the
cost of operating the system will be $2,000,000 per year after a one-time
installation cost of $5,000,000 is incurred. The construction period will be
one year. Once the plant is constructed and in operation, community benefits
are estimated at $4,000,000 per year. The system would be financed by a
property tax increment placed on the business and residential sectors. (6
points)
Without considering interest rates
and discounting, how long will it take for the community to “break
even” on this venture? SHOW ALL WORK. (4 points)
What might be defensible logic
behind using the property tax for the financing mechanism as compared to, say,
a sales tax? (4 points)
Write a brief one-paragraph budget
justification to support this project. [NOTE: I refer to the statement on page
175 of the text, to wit:”Well-developed budget justifications are the key
to successful agency budget requests.”] (4 points)
ScholarMatic: Explanation & Answer
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