Saturday Quiz – February 19, 2011

Welcome to the special 100th Edition of the billy blog Saturday quiz. To celebrate the centenary edition of our quiz, I will award special prizes to anyone who can score 7 correct answers.

The quiz tests whether you have been paying attention over the last seven days. See how you go with the following six questions. Your results are only known to you and no records are retained.

Quiz #100

  • 1. If a sovereign national government runs a balanced budget (on average) over a business cycle, then the average private domestic deficit (surplus) will always be exactly equal to the average external deficit (surplus) over the same cycle.
    • True
    • False
    • Maybe - more information is required
  • 2. Excessive real wages growth can cause unemployment.
    • True
    • False
  • 3. For workers to get a rising share of national income their nominal wages have to grow faster than inflation.
    • True
    • False
  • 4. Modern Monetary Theory implies that higher levels of taxation are not necessary for the government to spend more in real terms.
    • False
    • True
  • 5. Premium question: After a deep recession, governments wanting to reduce their unemployment rates should use expansionary fiscal policy to get real GDP growth back on trend.
    • True
    • False
    • Maybe

Sorry, quiz 100 is now closed.

You can find the answers and discussion here

This Post Has 5 Comments

  1. Last 4 weeks: 5/5, 5/5, 1/5, and 5/5. I guess I am getting there. BTW, is this right “To celebrate the centenary edition of our quiz, I will award special prizes to anyone who can score 7 correct answers.”

  2. I was despairing of winning a prize because I always guess at least one answer. However I am quite cheered that no one can get 7 answers right

  3. 2/5…. and I was really good in school too. What was it Orwell said about a functioning education System?!

  4. “To celebrate the centenary edition of our quiz, I will award special prizes to anyone who can score 7 correct answers.”

    Of course its right. You just have to use neo-liberal economic theories and have no regard for accounting. Any Chicago school graduate will easily be able to get 7 correct answers. They’ll just fudge the figures as usual.

  5. 5/5! first time . I don’t listen jazz but the notes of the neoliberal requiem sound great…

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