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Answer five of the following in a page or less each. Define and also give the significance TO the study of public budgeting and finance

Answer five of the following in a page or less each. Define and also give the significance TO the study of public budgeting and finance (1 point each)

1. Budget deficit 2. U.S. debt 3. Municipal bonds 4. Tax expenditure

5. gross receipts tax 6. Income elasticity 7. Economic efficiency

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