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…
The Weekend Quiz – September 10-11, 2022
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.
Quiz #700
- 1. A nation can run an external deficit and a government surplus of equal proportion to GDP, while the private domestic sector is spending less than they are earning.
- False
- True
- 2. For workers to regain a larger share of national income, nominal wages have to grow faster than inflation - that is, the real wage has to rise.
- False
- True
- 3. Say, we form the view that over the next year: (a) the average working week will be constant in hours; (b) real GDP growth rate will be 3 per cent; (c) output per unit of labour input (persons) will grow at 1.5 per cent; and (d) the labour force will maintain a growth rate of 1.5 per cent per annum. We would project that the unemployment rate:
- Will rise in the coming year by 1.5 per cent.
- Will fall in the coming year by 1.5 per cent.
- Will be unchanged.
Sorry, quiz 700 is now closed.
You can find the answers and discussion here
