When a government partially defaults its debt, a "haircut" of 20% means that
A) creditors receive 20% of what they owed.
B) creditors receive 80% of what they owed.
C) creditors receive 40% of what they owed.
D) creditors receive 10% of what they owed.
B
Economics
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The growth of total railroad mileage
(a) was far greater after the Civil War than before. (b) was maximized in miles built per decade before 1860. (c) was a free-market phenomenon, not subject to government subsidies. (d) was not subject to business cycle fluctuations.
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A sudden appreciation in the exchange rate of a country deteriorates the terms of trade of the country
a. True b. False Indicate whether the statement is true or false
Economics