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If a government defaults on the value of its debt by

Q: Answer-If a government defaults on the value of its debt by 3/4, this is the same as imposing a ____ tax on...

I borrow 100 euros from you and promise to pay you back next year the principal and 10. That means I owe you 110 euros next year. I now unilaterally declare that I will only honour 25 euros of debt to you. Next period I pay you 27.5 euros 25 1410. That is the same amount as though announcing to you next period that I would tax your 110 euros 75 i.e., you keep only .2511027.5

3/4, this is the same as imposing a ____ tax on interest and repayment of the principal.

A 60%

B 75%

C 45%

D 90%

E 80%

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If a government defaults on the value of its debt by

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