1> c. representative governments are slow to take action
Reason
Administrative lag is the delay in the time of action of the government. So, that is the problem of the administrative lag.
2> False
Reason
Even if the government is able to refinance the treasury securities at a reasonable rate, there maybe other fundamental issues with the government which means that there maybe some problem in the economy and thus, it might still be a concern and the government may go bankurpt in future.
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