Difference between state spending-local government spending

Reference no: EM133232014

Assignment:

1. One difference between state spending and local government spending is which of the following?

a. States spend more of their budget on k-12 education while local governments spend more of their budgets on higher education

b. Local governments spend more of their budget on k-12 education while state governments spend more of their budgets on higher education

c. State government spending is typically greater than the aggregate of a state's local governments

d. Local governments tend to outspend their state government

2. An income tax that taxes all income at the same rate is often considered to be more fair than a sales tax that taxes all sales of goods and services at the same rate because which of the following is true?

a. All people consume goods and services but not all people earn income.

b. The elasticity of labor supply is lower than the elasticity of demand for all goods and services.

c. The elasticity of labor supply is higher than the elasticity of demand for all goods and services.

d. People who earn more income tend to consume with a smaller proportion and save with a larger proportion of their income.

Reference no: EM133232014

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