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The Weekend Quiz – March 28-29, 2020

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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. 1. Only one of the following propositions is possible (with all balances expressed as a per cent of GDP):A nation can run an external deficit with an offsetting fiscal surplus, while the private domestic sector is spending less than they are earning.A nation can run an external deficit with an offsetting fiscal surplus, while the private domestic sector is spending more than they are earning.A nation can run an external deficit with a fiscal surplus that is larger, while the private domestic sector is spending less than they are earning.None of the

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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.

1. Only one of the following propositions is possible (with all balances expressed as a per cent of GDP):





2. It won't be long before the European Commission demands that Eurozone nations are forced to pursue internal devaluation through austerity programs that are designed to deflate nominal wages and prices to allegedly improve their relative competitiveness. Ignoring whether the logic is correct or not, which of the following propositions must also follow within the internal devaluation logic:





3. One possible problem with running continuous fiscal deficits is that the spending builds up over time and with inflation eventually becoming the risk that has to be managed.





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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