Many states have language in their constitutions that requires the state to provide for an “adequate” level of education spending. What is the economic rationale for such are requirement?
Answer to relevant QuestionsHow did the composition of federal and state and local government spending change between 1960 and 2007? What social and economic factors might have contributed to this change in how governments spend their funds? What is the role of the Congressional Budget Office (CBO)? Why is independence and impartiality important when conducting empirical analyses? The price of a bus trip is $1 and the price of a gallon of gas (at the time of this writing!)is $3. What is the relative price of a gallon of gas, in terms of bus trips? What happens when the price of a bus trip falls to ...A good is called normal if a person consumes more of it when her income rises (for example, she might see movies in theaters more often as her income rises). It is called inferior if a person consumes less of it when her ...Your state introduced a tax cut in the year 1999. You are interested in seeing whether this tax cut has led to increases in personal consumption within the state. You observe the following information: Year . Consumption in ...
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