What are the similarities between private debts and public debts?

Asked by Topperlearning User | 24th Apr, 2015, 07:39: AM

Expert Answer:

Similarities between public and private debts are:

  1. Both the government and individuals take loans to bridge the gap between income and expenditure for their day-to-day activities.
  2. They take loans for specific periods at a fixed rate of interest.

Answered by  | 24th Apr, 2015, 09:39: AM

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