Question

_____ is a promise made by the government that implies that a debt will be paid by the government at some future point in time.

Answer 1

Answer:

An implicit liability

Explanation:

Implicit liability is a verifiable open obligation to be paid by the government. While explicit liability is an open obligation that is characterised as liabilities that are government advances and bonds, certain open obligation incorporates all other government liabilities – for example, commitments for future uses that are written in the present law, similar to benefits and medical coverage. In spite of the fact that there are contentions around the scope of streams that ought to be considered an understood obligation, they all share one trademark practically speaking: such commitments are normally less authoritative than contracts with lenders and bondholders.