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Saturday Quiz – August 3, 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.

1. If the trend to austerity led to all national governments simultaneously running public surpluses then it would be impossible for all their respective private domestic sectors to save overall.



2. Which budget deficit outcome is the most expansionary?





3. When the government matches its deficit with debt-issuance it changes the portfolio of wealth held in the non-government sector. The impact on purchasing power is equivalent to a leakage from the expenditure system (akin to taxation, saving or imports) which reduces the expansionary impact of the government deficit spending.





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