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Saturday Quiz – November 2, 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. f 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.



2. The automatic stabilisers built into the government budget work counter-cyclically and push the budget balance back to its appropriate level after a major cyclical disturbance.



3. The monetary base always adjusts by increasing when commercial banks increase their loans.





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