Problem
Answer five of the following in a page or less each. Define and also give the significance to the study of public budgeting and finance.
a) Budget deficit
b) U.S. debt
c) Tax expenditure
d) Income elasticity
e) Economic efficiency
MAJOR INTEGRATIVE ESSAYS (10 points each)
1) Compare and contrast the fiscal health of the states of California, Missouri, and Florida in great detail, analyzing the use of particular revenue sources and patterns of spending.
2) Compare and contrast the fiscal health of three major cities total -- one in the U.S., one from another country, and another from another country -- in great detail, analyzing the use of particular revenue sources and patterns of spending.