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The Weekend Quiz – October 3-4, 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. 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:

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

3. A currency-issuing government that runs a balanced fiscal balance over the economic cycle (peak to peak) must accept that after all the spending adjustments are exhausted, the private domestic balance will average a surplus over the same cycle, if the external balance averages a surplus over the same cycle.

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