The concept of 'Original Sin' in the literature on emerging-market debt refers to:
A. The historical difficulty of many countries in borrowing internationally in their own currency
B. The first occurrence of a debt default
C. Only domestic-currency debt problems
D. The sin of high public spending
Answer: Option A
Solution (By JKSSB Mock Tests)
Original sin denotes the inability of most emerging-market and developing countries to borrow abroad in their own currencies, forcing them to issue foreign-currency debt and creating currency mismatches.
Explanation:
Total utility reaches its maximum when marginal utility is zero; beyond this point, marginal utility becomes negative and total utility falls.
Explanation:
India has traditionally used a poverty line based on minimum calorie requirements and corresponding consumption expenditure to measure absolute poverty.
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