Saturday Quiz – January 5, 2013

Welcome to the first Billy Blog Saturday Quiz for 2013. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you and no records are retained.

1. The monetary base always adjusts to changes in the money supply rather than the other way around.

2. The automatic stabilisers built into the government budget work counter-cyclically to ensure that the budget balance returns to its appropriate level after a cyclical disturbance.

3. If the external sector was running a surplus equivalent to 4 per cent of GDP, and the sum of all the private sector spending plans indicated it was desiring to run a surplus overall equivalent to 6 per cent, then the government could safely plan on achieving a budget surplus of 2 per cent of GDP.

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    One Response to Saturday Quiz – January 5, 2013

    1. My Wag says:

      I was temporarily transported back to 4th grade and a test that I hadn’t studied for.
      Whew, now where is the girl who kicks my shins. I love the pain.

      And hopefully momentum will continue to build for MMT or at least the Platinum Coin Solution…which if chosen would seem to lead to full implementation of MMT.

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