The debt service ratio is defined as

(a) the ratio of total debt to export earnings.
(b) the ratio of total debt to GDP.
(c) the ratio of payments on foreign debt to export earnings.
(d) the ratio of payments on foreign debt to GDP.

C

Economics

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In the real business cycle theory, during a period when output is falling,

a. workers are voluntarily giving up their jobs. b. the quantity supplied of labor is falling. c. aggregate productivity must be falling. d. all of the above. e. none of the above.

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The relative scarcity of water in desert societies causes the marginal utility of the last unit consumed to be

a. zero b. low c. high d. equal to price e. equal to demand

Economics