Intergovernmental Revenue Transfers Account for ______ of Local Government Spending

question 48

Multiple Choice

Intergovernmental revenue transfers account for ______ of local government spending.

• A) three-quarters
• B) half
• C) one-quarter
• D) one-third

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Definitions:

Deep Discount Bond

A bond that sells at a significantly lower price than its par value, often due to high interest rates or the poor credit rating of the issuer.

Taxable

Pertaining to financial income or transactions subject to taxation by government authorities.

Coupons

Fixed interest payments made by a bond issuer to its bondholders at specified intervals.

Zero-Coupon Bond

A bond that is issued at a discount and does not pay annual interest but is redeemed at its face value at maturity.