Question: A country's external wealth is equal to the difference between its foreign assets and its foreign liabilities. Suppose a country has external wealth equal to

A country's external wealth is equal to the difference between its foreign assets and its foreign liabilities. Suppose a country has external wealth equal to zero and decides to default on its government debt. As a result, the country will become a creditor nation and its external wealth will be positive. the country will be neither a debtor nor a creditor and its external wealth will remain the same. the country will become a creditor nation and its external wealth will be negative. the country will become a debtor nation and its external wealth will be negative

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2. Ask questions, listen rather than attempt to persuade.

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1. Background knowledge of the subject and