How has the financing of elementary and secondary education changed in the United States since 1940? What is the primary reason for this trend?
What will be an ideal response?
Historically, elementary and secondary education in the United States was a local enterprise. This meant school financing was traditionally financed mostly at the local level. In 1940, for example, nearly 70 percent of financing for elementary and secondary education came from local sources. By 2000, that figure had declined to just over 40 percent with increases in state government funding making up most of the difference. The primary reason for the increase in state (and to some extent federal) funding has been the attempt to equalize funding across school districts. Since local school districts differ in the property tax bases available to them, more state funding allows more aid to be targeted to poor school districts.
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During 2010, a country reports that its price level fell and the money wage rate did not change. These changes led to
A) a lower real wage rate, lower profits, and a decrease in the quantity of real GDP supplied. B) a higher real wage rate, lower profits, and a decrease in the quantity of real GDP supplied. C) a higher real wage rate, higher profits, and an increase in the quantity of real GDP supplied. D) a lower real wage rate, higher profits, and an increase in the quantity of real GDP supplied. E) no change in the real wage rate and an increase in aggregate demand.
Based on the current state of revenue of the Social Security and Medicare programs, the government has two options for funding, which are
A) raising payroll taxes or cutting benefits. B) raising payroll taxes or raising benefits. C) cutting payroll taxes or cutting benefits. D) cutting payroll taxes or raising benefits.