In 2002 it looked like the Argentinean government might default on its debt (whi

ID: 1235878 • Letter: I

Question

In 2002 it looked like the Argentinean government might default on its debt (which eventually it did). The open-economy macroeconomic model predicts that this should have
Answer
1. lowered Argentinean interest rates and caused the Argentinean currency to appreciate.
2. raised Argentinean interest rates and caused the Argentinean currency to depreciate.
3. lowered Argentinean interest rates and caused the Argentinean currency to depreciate.
4. raised Argentinean interest rates and caused the Argentinean currency to appreciate.

Explanation / Answer

2) option

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In 2002 it looked like the Argentinean government might default on its debt (whi

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