The Weekend Quiz – August 19-20, 2017

Welcome to The Weekend 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. A sovereign national government requires taxation revenue in order to spend

2. The posting of a fiscal surplus indicates that the national government has sought to reduce aggregate spending in the economy.

3. To redistribute national income back to workers from capital, wages have to grow faster than the inflation rate.

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    9 Responses to The Weekend Quiz – August 19-20, 2017

    1. Andy says:

      The word ‘revenue’ in question 1 is sneaky

    2. Barri Mundee says:

      Yes Andy I was undone by that owrd too!

    3. Lance says:

      Three out of three! Woohoo!

    4. Tom says:

      Question 1 still making me scratch my head.

      Would love to see the solution. =)

    5. Nigel Hargreaves says:

      I got Q1 right (and 2 & 3), but I don’t think the reason is anything to do with the word ‘revenue’. We’ll see tomorrow.

    6. Steve says:

      In Q1, would the answer have something to do with giving the government issued money value?

    7. Jerry Brown says:

      According to the ‘results’ I got question 1 wrong. But I think the ‘results’ is wrong. MMT says government spending always comes first and that if you go back to the original issuance of the currency this becomes quite clear. The government has to spend the currency into the economy first in order to be able to tax in that currency afterwards. I will be even more interested in the quiz answers than usual. Thanks for the quiz!

    8. John G says:

      I’m curious about Q1 too.

    9. Lance says:

      I reckon question one means draining liquidity through taxation to give fiscal space to spend in certain other areas.

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