As States Began to Recover from the 2008-2009 Recession, States

question 48

Multiple Choice

As states began to recover from the 2008-2009 recession, states that had budget surpluses faced which of the following problems?

• A) How to avoid a cut in funding by the federal government
• B) What services to restore
• C) Which companies to dissolve
• D) When to increase taxes
• E) How to address entitlement programs

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Definitions:

Consent

Agreement or permission given by a person with full understanding of the facts and implications of an action or decision.

Creditor Beneficiary

A third party that benefits from a contract, especially one to whom a debtor owes a payment or performance.

Debt

An obligation or amount of money owed by one party to another, typically as a result of a loan or credit arrangement.

Contracts

Legally enforceable agreements between two or more parties that create mutual obligations.