Absolute and relative sizes of the public debt
How do economists distinguish among the absolute & relative sizes of the public debt?
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There are two method of measuring the public debt: (a) measure its absolute dollar size; (b) measure its relative size like a percentage of GDP.
Appropriations Limit, State (SAL): The constitutional limit on the expansion of some appropriations from tax proceeds usually set to the level of the previous year's appropriation limit as adjusted for modifications in cost of living
Changes in Authorized Positions (“Schedule 2”): This is a schedule in the Governor’s Budget which reflects staffing changes made following to the adoption of the present year budget and enacted legislation. This planned document modi
Please complete the midterm exam independently. Don't discuss it with other students in the class. Please email me if you have any clarifying questions. <
Exempts: The state employees exempt from civil service pursuant to the subdivision (e), (f), or (g) of Section 4 of Article VII of the California Constitution. Illustrations comprise department directors and some other gubernatorial appointees.
Year of Appropriation (YOA): It refers to the initial year of an appropriation.
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Warrant: It is an order drawn by the State Controller directing the State Treasurer to reimburse a particular amount, from a specific fund, to the entity or person named. A warrant usually corresponds to a blank check however is not essentially payabl
Describe difference between business risk and financial risk?Business risk refers to the uncertainty company hold regarding to its operating income (also termed as earnings before interest & taxes or EBIT). Business risk is brought onto sale
Budget Revision (BR): A document, generally approved by the Department of Finance, which cites a legal authority to authorize a modification in an appropriation. Usually, BRs either raise the appropriation or make adjustments to the groups or programs
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