Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then have a go at it before you read the answers. I hope this helps you develop an understanding of Modern…
The Weekend Quiz – May 25-26, 2019
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.
Quiz #531
- 1. As long as employment growth keeps pace with labour force growth, unemployment will not rise.
- False
- True
- 2. The non-government sector is immediately wealthier if the government matches it deficit with new debt issues compared to a situation where no debt was issued.
- False
- True
- 3. If net exports are running at 2 per cent of GDP, and the private domestic sector overall is saving an equivalent of 3 per cent of GDP, the government must be running:
- A surplus equal to 1 per cent of GDP.
- A surplus equal to 5 per cent of GDP.
- A deficit equal to 1 per cent of GDP.
- A deficit equal to 5 per cent of GDP.
Sorry, quiz 531 is now closed.
You can find the answers and discussion here
Two out of three. Not bad but room for improvement. Maybe that’s a good position to be in, on the way to grasping the truth of MMT but not yet in full possession of it–having learned much but with much yet to learn.
I thought that Bill and his music-loving readers might enjoy this short piece:
https://www.counterpunch.org/2019/05/24/the-army-aint-no-place-for-a-black-man-how-the-wolf-got-caged/
I’m a qualified software engineer with no prior background in economics but getting 3 out of 3 on all these quizzes is making me think I should go back to uni to become a heterodox economist and demount all the neoliberal crap they push. I’m really interested in this sort of stuff now.