Explain why some economists believe the burden of a public debt cannot be shifted onto future generations.
Answer to relevant QuestionsSome economists believe that the public debt may be detrimental to the economy's growth. Explain. Using 1990 as the base year (= 100), suppose Egypt's terms of trade in 2010 were 60. Explain what that means for Egypt in 2010 compared to Egypt in 1990. One of the most important ideas promoting free trade was GATT's "most-favored-nation" clause. Explain. Fill in the blank cell--labor-hours to produce a unit of French wine--to show no advantage to either France or England in trading with each other. Explain. Balance of payments problems and long-term international debt plague the less-developed economies. The two issues are related. Explain.
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