CLEAN: Detroit teeters on brink of bankruptcy

The video discusses the challenges faced by cities like Detroit, including the impact of cutting essential services such as police, fire, and education. It highlights the difficulty in attracting investment to financially struggling communities and the role of financial managers in balancing budgets. The discussion also touches on the long-term consequences of these financial strategies, potentially leading to further decline and flight from the city.

What is the primary goal of the neighborhood patrol?

• To promote local businesses

• To increase property values

• To maintain safety for citizens

• To reduce traffic congestion

Which of the following services is NOT mentioned as being cut?

• Healthcare services

• Streetlights

• Police services

• Fire services

What is the consequence of cutting city services in Detroit?

• Increased tourism

• Improved public transportation

• Decreased attractiveness for newcomers

• Higher employment rates

Why is it difficult to attract investment to certain communities?

• They are financially unstable

• They lack cultural attractions

• They have high tax rates

• They have strict regulations

What is the short-term role of a financial manager in a struggling community?

• To promote tourism

• To cut taxes

• To balance the financial books

• To increase public spending

What long-term effect might financial management have on a city?

• It could lead to increased population

• It might stimulate economic growth

• It could cause further flight from the city

• It might improve public services

What challenge does a financial manager face in the long term?

• Balancing the books year after year

• Increasing city population

• Reducing city taxes

• Improving public transportation