If the U.S. government can run chronic budget deficits, why can't state governments do the same?
A) Conservatives have more power in state legislatures than in the U.S. Congress.
B) Voters do not believe in budget deficits and they control state governments.
C) Most states have no income tax.
D) State constitutions require balanced budgets.
E) States must rely on taxation for the funds to repay creditors.
E
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Largescale immigration into the New World, between 1870 and 1913 caused the real wages to:
a. decrease in comparison with Europe. b. increase at a slower pace in comparison with Europe. c. increase at a higher pace in comparison with Europe. d. stay constant.
The incentive for new firms to enter into a perfectly competitive market is primarily the:
A) large number of existing firms in the market. B) positive profits earned by the existing firms in the market. C) high level of government intervention in the market. D) large number of buyers in the market.