1. 3. The chapter identifies and explains several reasons it is inappropriate to compare the government debt to the debt of a private citizen. Which of these explanations are consistent with the presentation in the chapter?

a. Governments have the ability to “roll over” their debt more or less endlessly.

b. Governments cannot default on their debt obligations.

c. A significant portion of the government debt is owed to citizens of the same country.

d. Governments with a national currency (such as Britain) pay interest on their debts in currency that they print.

e. Government debt is always used to finance investment.