JAMB - Economics (2019 - No. 66)
Most of the National debts is "dead weight" in the sense that is____
bound to increase from year to year
accumulated as the result of past capital investment
the responsibility of the treasury
not covered by any real asset
Explanation
Dead weight is a debt that is incurred to meet current needs without the security of an enduring asset. It is usually incurred by the government.
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