Which of the following statements is true of educational expenditures in Texas?
a. In the 2014-2015 budget, 37 percent of the state spending was allocated for education.
b. The state's portion of education funding is 70 billion per year.
c. The state appropriates over 30 billion a year for higher education.
d. The total public and higher education expenditures in the state are much lower than the line item totals in the state appropriations bill.
Q. 2Wily Dunston owns a small recreational joint and recently introduced the concept of hologram scratch-off tickets. People buy the tickets for a certain sum of money and scratch off the hologram to check if they have won any prize.
The odds are that they invest more and gain less. Which of the following is best exemplified by this scenario?
a. a lottery
b. a federal grant
c. an amusement tax
d. a sin tax
Q. 3Don is an amateur hunter. He obtains a hunting license from the Texas Parks and Wildlife Department which limits his hunting to within 500 acres of forest land. He pays 200 for the permit and 1,400 for a lifetime license.
Which source of state revenue is best exemplified by the permits and licenses paid by Don?
a. federal grant
b. amusement tax
c. dedicated fund
d. nontax revenue
Q. 4Which of the following statements is true of the lottery system in Texas?
a. In Texas, the lottery revenue has dropped low enough to kill off the games completely.
b. The entire amount earned in lottery sales is paid as taxes.
c. Reducing the Lottery Commission's budget has drastically increased the state's revenue.
d. Texas joined the multistate lottery in 2003 to increase net lottery revenue.
Q. 5What is often referred to as the fee on the mathematically challenged?
a. sin tax
b. interest
c. lottery
d. dedicated fund
Q. 6In the context of Texas, which of the following statements is true of federal income?
a. Federal funding is the smallest source of revenue for the state.
b. Increased Medicaid funding accounts for much of the federal increase over the last two decades in Texas.
c. Federal funding no longer funds the Texas state's health and human service spending.
d. Federal income has increased with the expiration of the Obama stimulus plan.
Q. 7What is the largest single source of revenue for the state of Texas?
a. federal funding
b. lottery revenues
c. interest and investment income
d. land income
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