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The Weekend Quiz – August 20-21, 2016

Welcome to The Weekend Quiz, which used to be known as the 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. Central banks provide reserves to the commercial banking system at some penalty rate. However, by standing ready to act as the lender of last resort to the commercial banks, the central bank's capacity to control bank lending and target a given monetary policy rate is compromised.

2. If inflation is stable and maintained at a rate equal to the interest rate, then the government deficit as a proportion of GDP could double (say from 2 to 4 per cent) without pushing up the public debt ratio.

3. The wage share in national income in many nations has fallen over the neo-liberal period. However, a declining wage share does not mean the real standard of living for workers is falling.

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    This Post Has 3 Comments
    1. Got question #2 wrong. Going to have to wait for the reason why before attempting to devise a situation where my answer might be correct. All I’ve managed so far is excuses like “I don’t understand Australian”, which even I recognize as being pretty lame. Thanks for the quiz though!

    2. Nope. Can’t even use my weak excuse and can’t come up with scenarios where my answer for question 2 was right. I admit I was wrong…. Or rather, I was mistaken in my understanding of the question… and all the data is not yet in… and there are situations where my answer might be right maybe… and it all depends on your definition of the word “could” when you really get down to it… and well, I was wrong.

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