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Saturday Quiz – May 16, 2015

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. National accounting rules dictate that a national government surplus equals a non-government deficit (and vice-versa). If a national government successfully achieves a budget surplus through an austerity program then the private domestic sector must be spending more than it is earning.

2. The share of national income going to profits has expanded over the last 30 years in many nations because employers have successfully suppressed real wages growth.

3. The Australian dollar has appreciated in recent days but the damaging effects on our international competitiveness can be offset if local workers accept a cut in nominal wages and the rate of inflation is contained.

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    This Post Has 2 Comments
    1. Dear Bill, You know that the answer to question 3 is ‘true’: there are just such claims, however plainly wrong they are!

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