A Default in the Past Makes It Much More Likely

question 67

Essay

A default in the past makes it much more likely that a government will default again,even if the current government is a new regime with every intention of honoring its debts.Why might that be?

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Definitions:

Physical Hazard

A factor within the environment that can harm the body without necessarily touching it, such as radiation or extreme temperatures.

Flood

An overflow of water that submerges land that is usually dry, often caused by heavy rain, melting snow, or breach of dams.

Poor Diet

A diet lacking in nutrition and essential nutrients leading to health problems.

Epidemiologic Transition

A phase of development witnessed by a sudden and stark increase in population growth rates brought by medical innovation in disease or disease control.