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The Weekend Quiz – February 15-16, 2020

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. Adherence to a 'balanced budget rule', measured over a full economic cycle (peak to peak) will force the private domestic sector balance to run a deficit on average if the external balance is in deficit on average over the same cycle.

2. Modern Monetary Theory (MMT) teaches us that a sovereign government does not have to issue debt to finance its spending. But the more public debt it voluntarily issues:

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

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