Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then have a go at it before you read the answers. I hope this helps you develop an understanding of Modern…
Saturday Quiz – July 18, 2015
Welcome to the Billy Blog Saturday Quiz. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you and no records are retained.
Quiz #330
- 1. If a national government constructs a road in Year 1 but then in Year 2 tears it up and relays it with the recycled road materials, the national income stimulus from the policy is only enjoyed in the first year.
- False
- True
- 2. A 'balanced budget' rule adopted by a national government eliminates the swings in the fiscal balance that arise from the automatic stabilisers.
- False
- True
- 3. The private domestic sector will save overall even if the government's fiscal balance is in surplus as long as net exports are positive.
- False
- True
Sorry, quiz 330 is now closed.
You can find the answers and discussion here
I scored 3 out of 3, yes!
I think I understood a tremendous lot about macro economics just listening to your most beautiful interview at INET – with your ‘student’ (he called you his mentor). A lot of things I have thought about economics for myself after my years at the university studying economics and political science was empowered when hearing that. Not least the truly liberating idea, that public spending is as much contributing to economic growth as is private spending. And seeing unemployed people as a waste, where it is much, much better to hire them. And this for economic purposes alone! Then come all the other social, psychological and social benefits from not having so many unemployed. – I am still totally convinced that this kind of economic thinking is the only way forward to a better future.
Good saturday to you over there 😉
Best
Lars, Denmark
3/3 this week woohoo! It’s the second time but the first time that I truly knew all of them were correct rather than a guess.
I’m loving MMT and trying my best to work on policy to make use of the knowledge. Trying to teach MMT to others is a lot more challenging and there’s not enough time to do it. Policy is the priority.
Hope you’re having a good weekend Bill.
I scored a rare perfect score but at least one if my answers was guess work. I admit I still do not understand the sectoral balances nearly as well as I would like.
First time actually doing the quiz, and I got a perfect! Admit first question was a bit of a guess, but used a bit of logical thinking based on what I read here. Think I’m getting the hang of it now, though I have no formal education in Economics. I think this has helped me grasp the concepts much easier and quicker than some.