State and Local Governments Spend 21% of Their Budget on Which

question 138

Multiple Choice

State and local governments spend 21% of their budget on which of the following?

• A)Education
• B)Health
• C)Public Safety
• D)Cash assistance
• E)Environment/housing

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Definitions:

RRSP Account

A Registered Retirement Savings Plan in Canada that offers tax benefits to individuals saving for retirement.

Interim Interest

Interest that is calculated and charged in the period between the closing of a loan and the first scheduled payment date.

Bondholders

Individuals or institutions that hold the debt securities issued by corporations or governments, entitling them to receive fixed interest payments.

Retractable

A bond (or preferred shares) with a retractable feature allows the holder to sell the bond (or preferred shares) back to the issuer before maturity at a preset price.