Question 1

What legal mechanisms are in place to keep the Texas budget balanced?

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Question 2

What is the name for a bond whose repayment is guaranteed by the full faith and credit of the state?

Accepted Answer

A bond whose repayment is guaranteed by the full faith and credit of the state is known as a general obligation bond. This means that the state will use all available resources to repay the bondholders, including raising taxes if necessary.

Question 3

Explain the role of the comptroller of public accounts.

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Question 4

Summarize the system of higher education funding at Texas colleges and universities,and explain how funding for community colleges differs from that of four-year institutions.Identify some of the controversies surrounding higher education funding.

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Question 5

Explain the state's role in helping students afford a higher education.

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Question 6

According to the Texas Transportation Commission,what is the newest means of financing Texas highways?

Accepted Answer

The Texas Transportation Commission states that the newest means of financing Texas highways is through the use of money collected from tolls. This indicates that choice B is the correct answer. The other options, such as the sale of bonds or an increase in gas taxes, have been used as financing methods in the past and are not the newest means according to the commission. The implementation of a state income tax or an increase in the inheritance tax is not mentioned as a means of financing Texas highways.

Question 7

In the 2018-2019 biennial budget,approximately what percentage of state expenditures went to higher education funding in Texas?

Accepted Answer

In the 2018-2019 biennial budget for Texas, higher education funding accounted for approximately 5-10 percent of state expenditures.

Question 8

Explain the role of the Legislative Budget Board.

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Question 9

Which program allows parents to lock in the cost of future tuition and fees at a state university or college?

Accepted Answer

The Texas Tomorrow Funds allow parents to prepay tuition and fees at a state university or college at current rates, thus locking in the cost for the future. The other options listed do not involve locking in the cost of tuition and fees.

Question 10

What are the two ways expenditures are classified in the state of Texas? Compare and contrast these two approaches.

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Question 11

Describe the system of public assistance in Texas,particularly as it applies to health care.Should the state of Texas make health and human services for children more of a priority? Why or why not?

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Question 12

What is the name for accounts that can be used only for specifically named purposes?

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Dedicated funds are accounts that are set up for specific purposes such as education, healthcare or transportation. The funds generated from taxes or fees are only used for those designated purposes.

Question 13

The state of Texas has one of the highest sales tax rates in the nation and does not have a state income tax.Is Texas's tax structure an example of a regressive or a progressive tax system? Explain.

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Question 14

Identify and describe the nontax sources of revenue on which Texas relies.What are the positive and negative aspects of relying on these revenue sources? Which of these nontax revenues could Texas least afford to lose,and why?

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Question 15

What is the purpose of the Economic Stabilization Fund in Texas? Describe how it was created and is used.

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Question 16

Describe the various taxes imposed by the state of Texas to raise revenues.Identify the population that each tax targets and an approximation of which taxes raise the most revenues.

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Question 17

Summarize the state's efforts to collect sales tax from online businesses.

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Question 18

What are the rules regarding government debt in Texas? Why does the government borrow when it does? Describe both positive and negative aspects of the way that Texas handles government borrowing.

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Question 19

Summarize the system of public school (K-12)funding in Texas.Why is unequal funding such a problem for public schools? Evaluate the "Robin Hood" plan for funding equalization.

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Question 20

Summarize the procedure for developing and approving a state budget in Texas including the roles of both the executive and legislative branches.What are the positive and negative aspects of using a two-year budget cycle?

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Quiz 11: Finance and Fiscal Policy