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The Weekend Quiz – August 1-2, 2020

Summary:
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. Which scenario represents a more expansionary outcome:A fiscal deficit equivalent to 5 per cent of GDP (including the impact of automatic stabilisers equivalent to 3 per cent of GDP).A fiscal deficit equivalent to 3 per cent of GDP.You cannot tell because you do not know the decomposition between the cyclical and structural components in Option (B)2. Fiscal austerity (manifesting as a fiscal surplus) will not damage economic growth if the external balance is in surplus and adding net spending to the economy.TrueFalse3. In the context of population

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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.

The Weekend Quiz – August 1-2, 2020

1. Which scenario represents a more expansionary outcome:




2. Fiscal austerity (manifesting as a fiscal surplus) will not damage economic growth if the external balance is in surplus and adding net spending to the economy.



3. In the context of population ageing, the fact that a sovereign government is never financially constrained means that it can always provide first-class health care to its citizens.





Bill Mitchell
Bill Mitchell is a Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the University of Newcastle, NSW, Australia. He is also a professional musician and plays guitar with the Melbourne Reggae-Dub band – Pressure Drop. The band was popular around the live music scene in Melbourne in the late 1970s and early 1980s. The band reformed in late 2010.

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