Saturday Quiz – August 22, 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.
Greek Left Platform Creates New Popular Unity Party
“The new Popular Unity Party will hold up the “NO” Referendum, honor the Anti-Austerity wishes of the people, stop privatization, break up the banking system, build a new economy and exit the Eurozone.”
Tough to predict, especially about the future, but my crystal ball shows an insightful billyblog on this in the near future.
3 out of 3 for the first time today! I am a little confused however as to why national income is expressed as C + I + G + (E – X). It seems to me that income would be C + I + G + E, with “out-go” as C + S + T + X. No difference of course when you net the two sides of the equation to derive your sectoral balances. But if I work on a government contract deriving income from G and I buy imported electronic equipment, spending my income as X, it seems odd that my purchase of imported goods is considered a reducing income rather than increasing spending.
Is there any way to get these new groups knowledge of MMT?