Approximately what percentage of state and local expenditures do bond referenda account for? 25 percent. 10 percent. less than 1 percent. 50 percent.

The answer to this question is 1 percent
The largest spending for state and local expenditures are mostly for public welfare (42%). In term of bond expenditures, federal government tend to outperform state and local government because of it's connection with federal bank that often sell bonds during their monetary polieicies

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