Mauricio Drelichman and Hans-Joachim Voth’s analysis of the debt repayments and expenditure of the government of Philip II (who ruled an empire including Spain and Milan from 1556 to 1598) found a seeming contradiction: although the government had several short-term cash shortages, it ran an even larger surplus than did the government of eighteenth-century Britain, a nation considered __________ of fiscal virtue.
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Verbal·Craft and Structure·Words in Context
hardWhich choice completes the text with the most logical and precise word or phrase?
A
a sanction
B
a paradox
C
an exemplar
D
an omen