In 1998, the Russian Government Defaulted on Its Bonds

question 38

Multiple Choice

In 1998, the Russian government defaulted on its bonds. According to the open-economy macroeconomic model, this should have

• A)increased Russian interest rates and net exports.
• B)reduced Russian interest rates and net exports.
• C)increased Russian interest rates and reduced Russian net exports.
• D)reduced Russian interest rates and increased Russian net exports.

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