What is the difference between budgetary borrowing and general obligation bond debt?
What will be an ideal response?
If a budget deficit appears and the state cannot generate additional revenue, it borrows money to cover the deficits; this is budgetary borrowing. General obligation bonds allow the state to borrow money that will be spent to shape the quality of life and commerce, usually by investing in huge infrastructure projects. Therefore, budgetary borrowing does not yield long-term "payoffs," whereas general obligation bonds yield investments in infrastructure that have payoffs for people and businesses.
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Who was "fired" for insubordination by Harry Truman during the Korean War?
a. Secretary of Defense Robert McNamara c. General Paul Harkins b. General Douglas MacArthur d. Defense Secretary Louis Johnson
The promotion of one's culture while devaluing other cultures is known as A) ethnocentrism
B) cultural relativism. C) dehumanism. D) None of the above
Because of large amounts of borrowing and a declining economy, the nation of Atlantis is unable to make debt payments. The international organization they would turn to for a short-term emergency loan is the
A) General Agreement on Tariffs and Trade. B) International Monetary Fund. C) World Bank. D) World Trade Organization. E) Yearly Economic Forum.
Explain how Madison, Jefferson, and John C. Calhoun defined the doctrine of nullification.
What will be an ideal response?