Multiple Choice Questions on Consider the following statements Statement I If the United States of America USA were to default on........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements Statement I If the United States of America USA were to default on...........

Economic Affairs Financial Markets
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    Consider the following statements:

    Statement-I:

    If the United States of America (USA) were to default on its debt, holders of US Treasury Bonds will not be able to exercise their claims to receive payment.

    Statement-II:

    The USA Government debt is not backed by any hard assets, but only by the faith of the Government.

    Which one of the following is correct in respect of the above statement

    This questions was previously asked in
    UPSC CSP GS Previous Year Paper 2024
    View All IAS Previous Year Papers

    Both Statement-I and Statement-II are correct and Statement-II Statement-I explains

    Incorrect Answer

    Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I

    Incorrect Answer

    Statement-I is correct, but Statement-II is incorrect

    Incorrect Answer

    Statement-I is incorrect, but Statement-II is correct

    Correct Answer
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    Explanation:

    Statement-I is incorrect, but Statement-II is correct

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