Near-term policy
How might expectations of a near-term policy reversal weaken fiscal policy depend on changes in tax rates?
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A reduction in tax rates might be enacted to stimulate consumer spending. If households attain the tax cut but expect it to be reversed in the near future, they might hesitate to rise their spending. Believing that tax rates will increase again (and possibly concerned that they will rise to rates higher than before the tax cut), households may instead save their added after-tax income in anticipation of requiring to pay taxes in the future.
Fund: A lawful budgeting and accounting entity which offers for the segregation of moneys or other resources in the State Treasury for obligations in accordance with particular restrictions or limitations. A separate set of accounts should be maintain
Which ratios would a potential long-term bond investor is most interested in? Describe. Current & potential lenders of long-term funds, such like banks & bondholders, are interested in debt ratios. While a business's debt ratios rise sig
General Fund (GF): For lawful basis accounting and budgeting aims, the predominant fund for the financing state government programs, employed to account for revenues that are not particularly designated to be accounted for by another fund. The main so
Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i
Simulation with Crystal Ball Provided Workbook: Mascot Simulation Relevant Readings:"Discounted Cash Flow Modeling" folder + Text
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. <
Fund Condition Statement: A budget display, comprised in the Governor’s Budget, shortening the operations of a fund for the past, present, and budget years. The display comprises the starting balance, previous year adjustments, loans, revenue, t
Schedule 10R (Supplementary Schedule of Revenues and Transfers): The Department of Finance control document replicating information for transfers, revenues, and inter-fund loans for the past, present, and budget years. Schedule 10Rs i
Statute: It is a written law enacted by the Legislature and signed by the Governor or a vetoed bill overridden by a 2/3 vote of both houses), generally referred to by its chapter number and the year in which it is passed. The statutes which modify a s
Local Assistance (LA): The character of expenditures prepared for the support of local government or other locally administered actions.
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