Economics
5th Edition
ISBN: 9781319066604
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Chapter 28, Problem 15P
To determine
Concept Introduction:
Current Public Debt: The unpaid short-term debt of a country which is the debt of the government and has to be paid back in future time is called public debt.
Implicit Liabilities: These are the long term government debts which occur because of government borrowings like loans. The growth of the economy is reflected by the implicit liabilities.
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