The Weekend Quiz – December 16-17, 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. Although we are told that a country is running a small current account deficit and that the private domestic sector is saving overall, we are unable to draw any conclusions about the state of the fiscal balance until we know the relative magnitudes of the other balances.

2. While a currency-issuing government does not have to issue bonds to match its deficit spending, one of the advantages of raising debt from the private sector is that it provides a boost to private wealth.

3. Fiscal austerity aims to reduce the stock of net government spending by reducing spending and/or increasing taxes.

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    12 Responses to The Weekend Quiz – December 16-17, 2017

    1. AndyB says:

      1 out of 3. ………sausages !

    2. Barri Mundee says:

      2 out of 3……. chicken wings !

    3. bill says:

      Dear Barri and AndyB

      I appreciate your comments, feedback etc but please can you express your disappointments in strictly vegetarian terms. (-:

      best wishes
      ps: I appreciate that the sausages might have been made of soya products. I definitely hope that was the case.

    4. Stevie_Eevee says:


    5. AndyB says:

      You will be relieved to learn Bill that I only consume Linda McCartney’s bangers. As it were.

    6. Mona Williams says:

      1 out of 3…homemade almond milk!

    7. Chris Herbert says:

      Re: Question two. Given that dollar for dollar deficit spending results in additional savings in the private sector, if all those Treasuries represent this identity, then those who buy the Treasuries benefit not only from an increase in safety for their private savings, but interest income as well. A little confused.

    8. AndyB says:

      Me too Chris.
      Will be going through 2 and 3 answers with a fine toothcomb

    9. Sam says:

      I’m happy that “stock” leapt out at me in question 3…

      OTOH, in question 2, it seemed me that “advantage” could be subjective…so I answered true…

    10. CS says:

      Oh missed the silly stock flow thing again. Doh!

    11. MrShigemitsu says:

      Just 2 out of 3.

      But, looking on the bright side, I did get the anti-spam maths answer correct!

    12. Simon Cohen says:

      3/3 quite chuffed that I think I tuned into Bill’s ‘trick phrasing’ this week.

      Compensated for last weeks 1/3

      Don’t do yourself down Mr. Shigemitsu! I consider 2/3 very respectable.

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