Question : The government's borrowing from foreign sources is known as ____________.
Option 1: External debt
Option 2: Public debt
Option 3: Trade deficit
Option 4: Current account deficit
Answer (1)
25th Jan, 2024
Correct Answer: External debt
Solution : The correct answer is (A) External debt.
When a government borrows from foreign sources, it is known as external debt. External debt represents the amount of money that a government owes to foreign creditors or institutions. It includes loans, bonds, and other forms of borrowing from international entities.
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