The Weekend Quiz – March 11-12, 2017

Welcome to The Weekend Quiz, which used to be known as the Saturday Quiz! The quiz tests whether you have been paying attention or not to the blogs I post. See how you go with the following questions. Your results are only known to you and no records are retained.

1. If the national accounts of a nation reveal that its external surplus is equivalent to 2 per cent of GDP and the private domestic sector is saving overall 3 per cent of GDP, then we know that national income adjustments would ensure that the fiscal balance was in:






2. Even though a government that issues its own fiat currency is not revenue constrained, it is still correct to say that recipients of income support provided by such a national government live off the hard work of those who pay income taxes.



3. There is no difference in terms of the government's impact on aggregate demand, between the government matching its deficit spending with bond issues to the non-government sector and the situation where the government instructed the central bank to buy its bonds to match the deficit.





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    3 Responses to The Weekend Quiz – March 11-12, 2017

    1. Horatio Parker says:

      3 out of 3, first in a while….

      So here’s some music…

    2. Mr Shigemitsu says:

      3 out of 3!! Woohoo!

      (And I got the maths question right in the Captcha!)

    3. Dingo says:

      2. Even though a government that issues its own fiat currency is not revenue constrained, it is still correct to say that recipients of income support provided by such a national government live off the hard work of those who pay income taxes.

      Hard work – does that mean digging 100 holes or convincing someone else they need to buy those 100 holes?

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