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Saturday Quiz – August 2, 2014

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. The Australian government has just introduced harsh new measures against the unemployed. The government is exploiting the popular view that the unemployed on income support benefits live off the hard work of those who pay taxes. The popular view has validity.

2. A potential problem with running continuous fiscal deficits is that the spending builds up over time which adds to inflationary pressures.

3. If private domestic investment is less than private domestic saving and the external sector is draining aggregate demand then the government fiscal balance has to be in deficit no matter what level of GDP is produced.

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