The authors describe Texas as a “pay-as-you-go” state. What does the phrase “pay as you go” mean?
a. The state of Texas does not create an annual budget; it creates a monthly budget.
b. The Texas Constitution requires a balanced budget, thus limiting debt.
c. All spending in the budget must be tied to a specific revenue source.
d. The Texas budget must get approval from the U.S. Department of the Treasury.
b. The Texas Constitution requires a balanced budget, thus limiting debt.
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What will be an ideal response?
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Indicate whether the statement is true or false
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a. India b. Germany c. Iran d. Russia e. China
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What will be an ideal response?