The constant-primary balance scenario: (Select 2 that apply).

1. Is a scenario in which the primary balance is assumed to remain constant at the historical average?
2. Finds a low path for debt-to-GDP relative to the baseline if the authorities are planning a credible fiscal adjustment.
3. Is also called the "no-policy change" scenario.
4. Is a scenario in which the primary balance is assumed to remain constant at the value for the current year?

AN EXPLANATION IS REQUIRED