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PA 581 PA581 PA/581 WEEK 3 QUIZ



PA 581 WEEK 3 QUIZ 1. Question : (TCO A) Which of the following statements describes the relationship among federal, state, and local governments? Question 2. Question : (TCO A) Logrolling is the process where: Question 3. Question : (TCO B) Current-dollar government purchases were $1,250 billions in 2010. With 2000 as the base year, assume the price deflator for 2010 is 175 (or, 1.75 if you don’t multiple by 100). In real dollars, the year 2000 government purchases would be which of the following (rounded to the nearest billion)? Question 4. Question : (TCO C) The largest portion of local government expenditures is: Question 5. Question : (TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $15,000,000. Quarterly allotments were as follows: Q1 – $3,750,000 Q2 – $4,500,000 Q3 – $3,750,000 Q4 – $3,000,000 On December 31, 201X, budget reports showed expenditures of $7,500,000 and encumbrances of $500,000. Taking encumbrances into consideration, what is the status of Library System spending as of December 31? Question 6. Question : (TCO B) List and identify the five most common reasons for requesting funds. Question 7. Question : (TCO A) Name and describe the major steps in the executive budget preparation process. Question 8. Question : (TCO B) Here are the annual personal benefits of a proposed Dog Romp Zone (DRZ) as perceived by Ann (A), Bob (B), and Chris (C): Individual Annual Benefit Ann $500 Bob $250 Chris $200 The overall annual total cost of the DRZ is $600. Does the DRZ represent a potential Pareto improvement? Incorporating numbers into your answer, say why or why not. (4 points) Suppose each individual will be assessed an equal share of the annual total cost. Will the project be approved in a majority-rule voting process? Incorporating numbers into your answer, explain why or why not. (8 points) Devise a cost-allocation scheme for A, B, and C that would ensure passage of the proposal in a majority-rule voting process. Explain why your scheme would work. (8 points) Question 9. Question : (TCO B) Distinguish clearly and carefully between each element of the five pairs of federal budget terms: • Budget Authority (BA) vs. Budget Outlay (BO) • Contract Authority vs. Borrowing Authority • No-Year Authority vs. Annual Authority • Rescission vs. Deferral • Mandatory Spending vs. Discretionary Spending Question 10. Question : (TCO C) A state game and fish agency wants to invest in a new fish hatchery. It is estimated that the cost of operating the system will be $2,000,000 per year after a one-time installation cost of $5,000,000 is incurred. The construction period will be one year. Once the plant is constructed and in operation, community benefits are estimated at $4,000,000 per year. The system would be financed by a property tax increment placed on the business and residential sectors. (6 points) Without considering interest rates and discounting, how long will it take for the community to “break even” on this venture? SHOW ALL WORK. (4 points) What might be defensible logic behind using revenues from fishing licensing and fines from violators of fishing regulations, for the financing mechanism as compared to, say, a sales tax? (4 points) Write a brief one-paragraph budget justification to support this project. [NOTE: I refer to the statement on Page 175 of the text, to wit. “Well-developed budget justifications are the key to successful agency budget requests.”] (4 points) Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help


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