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The Weekend Quiz – May 8-9, 2021

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. Assume that a nation is continuously running an external deficit of 2 per cent of GDP. In this economy, if the private domestic sector successfully saves overall, we would findA fiscal deficitA fiscal surplusCannot determine because we would need to know the scale of the private domestic sector saving as a % of GDP2. Government bonds constitute non-government financial wealth. Accordingly, non-government net worth immediately rises if the government issues new bonds to match its deficit spending.TrueFalse3. A government wanting to achieve full

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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 – May 8-9, 2021

1. Assume that a nation is continuously running an external deficit of 2 per cent of GDP. In this economy, if the private domestic sector successfully saves overall, we would find




2. Government bonds constitute non-government financial wealth. Accordingly, non-government net worth immediately rises if the government issues new bonds to match its deficit spending.



3. A government wanting to achieve full employment after a deep recession will succeed if it uses discretionary fiscal policy to ensure real GDP growth gets back on trend.





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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