The Weekend Quiz – December 15-16, 2018

Welcome to The Weekend Quiz. The quiz tests whether you have been paying attention or not to the blog posts that I post. See how you go with the following questions. Your results are only known to you and no records are retained.

1. A national government can run a balanced fiscal position (taxes equal spending) over the economic cycle (peak to peak) as long as it accepts that, after all the spending adjustments are exhausted, their strategy will ensure that households and firms overall spend more than they earn - that is, run down previous savings or accumulate more net debt.



2. A basic understanding of Modern Monetary Theory (MMT) would argue that mass unemployment is due to a deficiency in aggregate demand which would then lead one to reject the conclusion that excessive real wage demands by workers can cause such unemployment.



3. A fiscal surplus indicates that the national government is:






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    3 Responses to The Weekend Quiz – December 15-16, 2018

    1. Lance says:

      3 out of 3! I have slain the neoliberal beast this week!

    2. Mr Shigemitsu says:

      2 out of 3, for second week running, so looks like my lucky streak is over : (

      Must try harder – but I did get the 2 Qs right that I was most confident about, so that’s a consolation.

    3. cs says:

      3/3. Happy days.

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