During the 2007-2009 Financial Crisis, State and Local Governments Now

question 76

Multiple Choice

During the 2007-2009 financial crisis, state and local governments now found their interest costs rising. Which of the following were causes of this?

• A)lower tax revenues because of the weaker economy
• B)weakened value of monoline insurance guarantees on their debt
• C)both A and B
• D)none of the above

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Definitions:

Nullity

A legal status indicating that something is void and without legal effect from its inception.

Private Causes of Action

Legal rights allowing individuals to sue for a redress or prevention of wrongs, without government intervention.

Environmental Damage

refers to harm or adverse effects caused to the natural environment due to human activities or natural disasters, impacting ecosystems, biodiversity, and human health.

Criminal Penalties

Sanctions imposed by a court upon individuals or entities found guilty of violating criminal laws, including fines, community service, probation, and imprisonment.