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Plan Making and Implementation > Economics & Finance 1 > Flashcards

Economics & Finance 1 Flashcards

1
Q

NAICS

A

The North American Industry Classification System used by business and government to classify and measure economic activity in Canada, Mexico and US, six digit code

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2
Q

UDAG

A

Urban Development Action Grant 1978 - 1989 grants to cities and urban counties which are experiences severe economic distress to help stimulate economic activity needed to aid in economic recovery

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3
Q

Economic base analysis

A

looks at basic and non basic economic activities

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4
Q

Location quotient formula

A

local employment in industry x divided by total employment in area / national employment in industry x divided by total national employment

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5
Q

basic activities

A

economic activity that can be exported such as automotive manufacturing

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6
Q

non-basic

A

economic activity that can not be exported…hair salon

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7
Q

Four main parts of Economic Development

A
  1. Retaining existing business and industry
  2. Attracting business
  3. Nurturing small and start up business
  4. Developing and financing facilities that help capture business or recycle local funds
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8
Q

Economic focused on (blank) through the 70s but now focuses on (blank)

A

Manufacturing jobs; service sector, smaller business, and entrepreneurial business

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9
Q

10 leading economic indicators

A

unemployment, housing starts, Consumer Price Index, industrial production, bankruptcies, Gross Domestic Product, broadband internet penetration, retail sales, stock market prices, and money supply changes

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10
Q

major geographic shifts based on economic activity

A

Move from older manufacturing towns to sunbelt; move from urban core to suburbs and exurbs - now in the midst of the back to the city movement; Large metro areas to non metro communities

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11
Q

Small Business Administration

A

makes loans directly to businesses and acts as a guarantor on bank loans. Also makes loans to victims of natural disasters, works to get government procurement contracts for small businesses, assists small business with management, technical and training issues.

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12
Q

Grant Thornton

A

business climate ratings of the 48 states - NC rated top business climate

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13
Q

Push analysis

A

determines sales capacity of a market area; it determines if the introduction of a new business will generate additional customers

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14
Q

If the location quotient is greater than 1

A

area is exporting this good or service

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15
Q

If the location quotient is less than 1

A

area is importing this good or service

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16
Q

Shift-share technique

A

allocates a portion of the projected expansion to sub-regions or population centers based on the center’s present share of employment

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17
Q

Title 32 District

A

metro district to provide ambulance services, fire protection, hospital, mosquito control, park and recreation, safety protection, sanitation, street improvements, television. General Improvement District.

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18
Q

Gross National Product and Gross Domestic Product

A

value of final goods and services produced in a country in one year (gross domestic product) plus income that residents have received from abroad, minus income claimed by non residents

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19
Q

Operating budget

A

everyday expenditures, keeping the lights on, employees, utility bills, etc

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20
Q

Capital budget

A

Long term purchases - buildings, infrastructure, etc

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21
Q

Capital Improvements Program

A

5-10 years - things that will be completed over time, how they will be financed, etc.

22
Q

Line-Item budgeting

A

basic budget, cost of activities projected and inflation added

23
Q

PPBS Budgeting

A

Planning, Programming, Budgeting, Systems based on accomplishing goals set by each department

24
Q

ZBB

A

Zero Based Budgeting - department starts with zero , and every request for funds is evaluated for it’s impact on “the mission”. Decision packages are created

25
Q

Performance based budget

A

funding increases as departments meet set goals i.e. the planning department gets more money for plan review as they successfully review a certain number of plans

26
Q

Pay as you go finance

A

financing where budgetary restrictions demand paying for expenditures with funds that are made available as the program is in progress

27
Q

Reserve funds

A

funds reserved for future purchases

28
Q

General obligation bonds

A

bonds are issued after approval by voters. Tax revenue is then used to pay back bonds.

29
Q

Revenue bond

A

Use revenue from the thing you bonded for to pay off the bond. Good example is baseball stadium.

30
Q

TIF

A

increase in tax revenue used to construct improvements

31
Q

Special Assessments

A

specific group is assessed to pay for a specific improvement i.e. upgraded landscaping on a specific city street. Street residents are assessed to pay for the upgrades.

32
Q

Lease Purchase

A

“rent to own” when govt doesn’t want to borrow $ to fund big improvements, they might pay the lease rate until they are ready to pony up i.e. new park equipment

33
Q

Progressive tax

A

rate increases as income rises i.e. tax the rich more than the poor/income tax brackets

34
Q

Proportional tax

A

rate is equal regardless of value; rate is 10% if you own a million dollar house or 100,000 house

35
Q

Regressive tax

A

tax rate decreases as income rises. Person with more money has a decreased rate.

36
Q

E government

A

the use of information and communication technology to provide and improve government services, transactions and interactions with citizens, business, and other arms of government

37
Q

Telecommunications act

A

1996 Clinton the first major overhaul of United States telecommunications law in nearly 62 years, amending the Communications of of 1934

38
Q

New Market Tax Credits

A

provides tax credit incentives to investors for investing in communities that are economically distressed or have low income populations

39
Q

Telecom hotels

A

A building that houses hundreds and thousands of web servers for web hosting organizations, large enterprises and other service organizations

40
Q

Coupon rate

A

It is the interest rate that a bond issuer will pay to a bond holder

41
Q

NAFTA

A

North American Free Trade Agreement

42
Q

Input-Output Analysis

A

It shows how the output of one industry is an input to each other industry.

43
Q

Fiscal Impact Study

A

efforts to estimate the budgetary effects of various types of land uses on local government jurisdictions or other local service providers

44
Q

Average per capita method

A

take the budget for a town, divide by the number of constituents to determine, per capita expenses for town. Take how many people a new development will bring, multiply by average to determine entire fiscal impact.

45
Q

Adjusted per capita method

A

Adjusts average based on expectations (subjective)

46
Q

Disaggregated per capita method

A

assumes fiscal impact based on costs of different land uses i.e. retail vs. residential

47
Q

Dynamic method fiscal study

A

uses statistics and time and accounts for sales tax

48
Q

Cost benefit analysis

A

ratio of cost to complete the project vs the financial benefit of project. Everything must be put into monetary value, which is hard with environmental and social

49
Q

Cost effective analysis

A

CE ratio = (cost new strategy - cost current practice)/(effect new strategy - effect current strategy)

50
Q

Revolving loan fund

A

a pool of public and private sector funds that recycles money as loans are repaid

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