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The Weekend Quiz – September 25-26, 2021

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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. If the external sector was running a surplus equivalent to 4 per cent of GDP, and the sum of all the private sector spending plans indicated it was desiring to run a surplus overall equivalent to 6 per cent, then the government could safely plan on achieving a fiscal surplus of 2 per cent of GDP.TrueFalse2. The automatic stabilisers work counter-cyclically without any discretionary changes by government and push the fiscal balance back to its appropriate level after a major cyclical disturbance.TrueFalse3. The monetary base always adjusts by

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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 – September 25-26, 2021

1. If the external sector was running a surplus equivalent to 4 per cent of GDP, and the sum of all the private sector spending plans indicated it was desiring to run a surplus overall equivalent to 6 per cent, then the government could safely plan on achieving a fiscal surplus of 2 per cent of GDP.



2. The automatic stabilisers work counter-cyclically without any discretionary changes by government and push the fiscal balance back to its appropriate level after a major cyclical disturbance.



3. The monetary base always adjusts by increasing when commercial banks increase their loans.





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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