A Nation Often Has an Option to Default on Its

question 75

Multiple Choice

A nation often has an option to default on its sovereign debt rather than undergo painful repayment because:

• A) in every debt agreement there is an escape clause.
• B) there is no international debt court, nor would creditors gain advantage by military action against debtors.
• C) the finance ministers have the option to choose to repay or deliver commodities in lieu of payment.
• D) there are limited means by which to transfer international wealth, such as gold or domestic stocks or bonds.

Comprehend the process and importance of working together to achieve common goals (teamwork).

Identify the roles and skills essential for effective team and teamwork management.

Understand the impact and management of social loafing within a team.

Identify the types of groups within organizations and their characteristics.

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Definitions:

New Business

An enterprise recently established to provide goods or services to a market.

Successful Entrepreneur

An individual who has effectively identified a market opportunity and organized the resources necessary to capitalize on it, resulting in a profitable and sustainable business venture.

Characteristics

Qualities or features that distinguish an object, person, or phenomenon from others, defining its nature and behavior.

Hoechst Celanese

Hoechst Celanese is a division of Celanese Corporation, a global technology and specialty materials company originally formed as a part of the German chemical company Hoechst AG before restructuring and divestment.