1. In what ways do you think the debt of your country influences the life of ordinary citizens? 2. Discuss with reference to a named government the strategies used to manage the country?s debt 3. Briefly evaluate whether the policies were successful.

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02-08-2022
Business

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1. In what ways do you think the debt of your country influences the life of ordinary citizens? 2. Discuss with reference to a named government the strategies used to manage the country?s debt 3. Briefly evaluate whether the policies were successful.

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Tutorconsortium325 Tutorconsortium325 · Answer 1 · 2022-08-06T13:26:05+02:00

A debt crisis in one country can, and frequently does, cause economic suffering in other countries, whether in the private sector or the government. A tightening of financial circumstances, such as an increase in interest rates, a slowdown in trade and economic growth, or even just a sharp drop in confidence, might cause this.

What is economic crisis ?

It is a point in the economic cycle when an economy experiences long-term challenges.
A sharp downturn in the nation's economic performance is evident in falling output and demand, rising unemployment, and corporate bankruptcies.
This will inevitably result in a significant level of poverty throughout the nation.

What is economic growth?

A society's ability to generate and consume more and better economic goods and services is known as economic growth.
Even if the definition of economic growth is simple, measuring it is really challenging.
It's crucial to remember that growth is not defined by increases in household income or inflation-adjusted GDP; similarly, life expectancy is a metric of population health but is by no means the definition of population health.

Learn more about economic crisis here:

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