Saturday Quiz – April 6, 2013

Welcome to the Billy Blog Saturday Quiz. 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.

Quiz #211

  • 1. Modern Monetary Theory (MMT) indicates that a nation can fall into mass unemployment if real wages growth is rapid.
    • True
    • False
  • 2. The private domestic sector will typically be in deficit when a sovereign national government runs a balanced budget over the business cycle (peak to peak) and the nation runs an external deficit over the same cycle.
    • False
    • True
  • 3. Under a fiat monetary system, the absence of currency convertibility means:
    • (a) there is no reason for people to hold currency as a hedge against gold price falls.
    • (b) by imposing a fine on anyone who has a red car, the government can motivate red car owners to offer goods and services in return for public spending.
    • (c) the currency becomes convertible into government bonds rather than gold.

Sorry, quiz 211 is now closed.

You can find the answers and discussion here

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