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Saturday Quiz – August 1, 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. Assume that the current account deficit of a nation is on average over the business cycle equal to 2 per cent of GDP and that the government manages to run a balanced fiscal position when averaged over the same cycle. We can conclude that on average the private domestic sector overall is becoming increasingly indebted.

2. Trade unions can ensure that workers gain a greater share of national income if they attain aggregate wages growth greater than the inflation rate.

3. Sovereign government spending becomes more expensive when government bond yields for new issues rise.

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