Question 1

Federal expenditures play an important role in the Texas state budget.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

The answer of Explain the strengths and weaknesses of the...

Question 3

In Texas, the governor's line item veto power is

Accepted Answer

A)   prohibited by the state constitution.
B)   meaningless because the legislature can override it with a simple majority vote.
C)   very powerful because the governor can use it to limit expenditures.
D)   meaningless because before the governor can use it, he or she must obtain approval of the comptroller.
E)   The line-item veto can only be used when the governor and the LBB agree upon the veto.F) None of the above
G) A) and B)

Question 4

According to our text, what determines the amount of tax revenue generated from oil and natural gas produced in Texas?

Accepted Answer

A)   the minimum wage and unemployment rate
B)   market price and the amount produced
C)   federal regulations and excise taxes imposed by the federal government
D)   pipeline construction and environmental issues
E)   refinery capacity and foreign competitionF) All of the above
G) A) and B)

Question 5

From an overall standpoint, which statement is true?

Accepted Answer

A)   The Texas economy is closely tied to the national economy.
B)   The Texas economy is largely immune to the national economy.
C)   The Texas economy is much larger than the national economy.
D)   The Texas budget cycle effectively insulates the state economy from the rest of the world.
E)   Oil and natural gas production within the state's borders generate over two-thirds of state tax revenue.F) B) and E)
G) A) and E)

Question 6

To address the budget shortfall in the 2012-2013 budget, the most common tactic used by the legislature was

Accepted Answer

A)   raising tax rates.
B)   borrowing from the federal government.
C)   spending cuts.
D)   a newly implemented income tax.
E)   a brand new source of revenue derived from underground fracking.F) A) and B)
G) All of the above

Question 7

Discuss three of the five budgetary categories that are part of the budget process in Texas.

Accepted Answer

In Texas, the budget process includes se...

Question 8

In ${\text{West Orange-Cove Consolidated ISD v. Neely}}$, the Texas Supreme Court ruled that school districts had adequate discretion to set tax rates within their jurisdictions.

Accepted Answer

A) True 
 B)False

Question 9

Which phrase best characterizes Texas's reputation in terms of taxes and services?

Accepted Answer

A)   high tax, low service
B)   low service, low tax
C)   high tax, high service
D)   no tax and all services
E)   Despite its reputation, Texas's tax and service rates exceed the national averages.F) C) and E)
G) D) and E)

Question 10

When compared to the rest of the nation, the real estate collapse in Texas was

Accepted Answer

A)   more severe.
B)   less severe.
C)   remedied by low property tax rates.
D)   about the same as the national trend.
E)   caused primarily by increased production of oil and natural gas.F) A) and B)
G) A) and E)

Question 11

The tax revenue projections of the LBB have been uniformly accurate regardless of changes in the economy in recent years.

Accepted Answer

A) True 
 B)False

Question 12

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
E)   Everybody pays the same.F) A) and B)
G) C) and D)

Question 13

Why must the Texas legislature maintain a balanced budget?

Accepted Answer

A)   It is required by the U.S. Constitution.
B)   It is required by the Texas Constitution.
C)   Each legislative session decides to balance or not balance the state budget.
D)   The Texas Office of the Comptroller writes the state budget.
E)   Prior to assuming office, politicians in Texas swear an oath to balance the budget.F) B) and E)
G) A) and B)

Question 14

Following a legislative decision in 2003 to reduce state funding to higher education, which source of university revenue began to increase most rapidly?

Accepted Answer

A)   gasoline taxes
B)   student tuition and fees
C)   general revenues
D)   state income tax
E)   Texas state lottery revenuesF) C) and D)
G) A) and B)

Question 15

Who certifies the state budget of Texas?

Accepted Answer

A)   the governor
B)   the legislature
C)   the chair of the LBB
D)   the comptroller
E)   the Speaker of the House and the lieutenant governorF) A) and E)
G) C) and D)

Question 16

Which of the following statements is true?

Accepted Answer

A)   During the 2011 legislative session, it became apparent that the booming state economy had dramatically increased state revenues.
B)   The effects of the Great Recession did not reach Texas, as the state enjoyed surplus revenues.
C)   The legislative session was particularly difficult because the Great Recession had significantly reduced state revenue.
D)   The Texas legislature did not meet in 2011.
E)   Resulting from the effects of the 2011 economic recession, the state budget deficit equals GDP.F) A) and B)
G) D) and E)

Question 17

Prior to 2003, tuition for public colleges and universities in Texas was set by

Accepted Answer

A)   the Board of Education.
B)   the state Department of Education.
C)   the governor's Department of Education.
D)   the state legislature.
E)   the federal government.F) C) and D)
G) A) and D)

Question 18

The Economic Stabilization Fund (ESF)  is commonly known as the

Accepted Answer

A)   bailout for poorly managed school districts.
B)   fund to take advantage of economic opportunity for investments in Texas.
C)   Rainy Day Fund.
D)   Too-big-to-fail Fund.
E)   fund to stabilize the price of oil and gas.F) A) and B)
G) B) and D)

Question 19

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 the their income in taxes.
D)   the more income you have, the larger the percentage of it that goes to pay taxes.
E)   higher-income individuals pay progressively more taxes based on their incomes.F) A) and D)
G) A) and B)

Question 20

The process of drafting a bill is referred to as

Accepted Answer

A)   enrollment.
B)   introduction.
C)   markup.
D)   referral.
E)   filibustering.F) B) and D)
G) B) and E)

Exam 11: Public Finance in Texas

Discuss three of the five budgetary categories that are part of the budget process in Texas.

Correct AnswerAnswered by ExamLex AIIn Texas, the budget process includes se...View AnswerShow Answer

Why must the Texas legislature maintain a balanced budget?

Correct AnswerverifiedShow Answer

Following a legislative decision in 2003 to reduce state funding to higher education, which source of university revenue began to increase most rapidly?

Correct AnswerverifiedShow Answer

From an overall standpoint, which statement is true?

Correct AnswerverifiedShow Answer

The process of drafting a bill is referred to as

Correct AnswerverifiedShow Answer

The tax revenue projections of the LBB have been uniformly accurate regardless of changes in the economy in recent years.

Correct AnswerverifiedShow Answer

To address the budget shortfall in the 2012-2013 budget, the most common tactic used by the legislature was

Correct AnswerverifiedShow Answer

Federal expenditures play an important role in the Texas state budget.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In West Orange-Cove Consolidated ISD v. Neely{\text{West Orange-Cove Consolidated ISD v. Neely}}West Orange-Cove Consolidated ISD v. Neely , the Texas Supreme Court ruled that school districts had adequate discretion to set tax rates within their jurisdictions.

Correct AnswerverifiedShow Answer

According to our text, what determines the amount of tax revenue generated from oil and natural gas produced in Texas?

Correct AnswerverifiedShow Answer

Who certifies the state budget of Texas?

Correct AnswerverifiedShow Answer

In Texas, the governor's line item veto power is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When compared to the rest of the nation, the real estate collapse in Texas was

Correct AnswerverifiedShow Answer

The Economic Stabilization Fund (ESF) is commonly known as the

Correct AnswerverifiedShow Answer

Which phrase best characterizes Texas's reputation in terms of taxes and services?

Correct AnswerverifiedShow Answer

Which of the following statements is true?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Prior to 2003, tuition for public colleges and universities in Texas was set by

Correct AnswerverifiedShow Answer

Correct Answer
Answered by ExamLex AI
In Texas, the budget process includes se...
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In ${\text{West Orange-Cove Consolidated ISD v. Neely}}$ , the Texas Supreme Court ruled that school districts had adequate discretion to set tax rates within their jurisdictions.

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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