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Saturday Quiz – October 26, 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. Under current public sector debt-issuance arrangements (where sovereign governments match their deficits with issues of debt), the government and the private domestic sector cannot simultaneously spend less than they earn.

2. The government needs to raise tax revenue in order to spend.

3. The estimates provided by institutions such as the OECD and the IMF of the size of the automatic stabilisers are typically biased downwards.

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