The United States borrows a lot of money from other countries. If you wanted to use the

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The United States borrows a lot of money from other countries. If you wanted to use the lifecycle theory to explain this, would you say that the United States is acting like a “young” country, an “old” country, or a “middle-aged” country? There’s more than one correct way to answer this question.
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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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