Municipalities impose debt ceilings on the dollar amount of bonds that can be issued backed by ad valorem taxing power (G.O. bonds). To raise this limit requires a public referendum. Debt limits do not apply to self supporting debt such as revenue bonds or industrial revenue bonds. Hope this helps
With the increase or decrease of the prices of substitutes, the demand of the substitute goods also decreases or increases.
Explanation:
Substitutes are the products which can be used in place of another product. For example, a cup of coffee can be taken instead of a cup of tea, or Coke can be taken instead of Pepsi.
Change in the price of Substitutes can affect the demand of other substitutes. If the price of a product increases, then the demand of its substitute increases, and if the price of the product decreases, then the demand of its substitute also decreases.
We can understand this relation with an example. Suppose the product is tea. The substitute of tea is coffee. If the price of tea increases, then people will definitely move towards the substitute, which is coffee. This will increase the demand for coffee. Similarly, if the price of tea decreases, people will buy more tea than coffee, which will decrease the demand for coffee. This is how the substitutes affect demand of each other.
Learn more about substitutes at:
brainly.com/question/12566919
#LearnWithBrainly
Answer:
The comment given by Mr. Thomas Hoving is an indicative of an art world prejudice that set less importance on functional objects. And he is giving more relevancy to the paint than the ancient greek terra cotta vase, and is more than obvious that both aspects of the object are important.
