{"id":28398,"date":"2014-07-12T04:00:32","date_gmt":"2014-07-11T18:00:32","guid":{"rendered":"https:\/\/billmitchell.org\/blog\/?p=28398"},"modified":"2014-07-12T04:00:32","modified_gmt":"2014-07-11T18:00:32","slug":"saturday-quiz-july-12-2014","status":"publish","type":"post","link":"https:\/\/billmitchell.org\/blog\/?p=28398","title":{"rendered":"Saturday Quiz &#8211; July 12, 2014"},"content":{"rendered":"<p>\t\t\t\tWelcome to the <strong>Billy Blog Saturday Quiz<\/strong>. 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.<br \/>\n<!--more--><br \/>\n<h4>Quiz #277<\/h4><ul>\n<li>1. Over a given business cycle (peak to peak), if a nation&apos;s external sector is on average balanced and the government gap between its tax revenue and spending is, on average, equal to 1 per cent of GDP, then the private domestic sector&apos;s spending-income balance will on average be in:<\/li><ul><li>Deficit of 1 per cent of GDP<\/li><li>Surplus of 1 per cent of GDP<\/li><\/ul>\n<li>2. Considering only the initial impact on national income (ignoring multiplier effects), fiscal austerity will have a greater negative effect on real GDP if it manifests as a spending cut of $x than if the government chose to raise a value added tax to generate $x revenue at the current level of national income.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<li>3. During a recession, if the government uses expansionary fiscal policy to restore trend real GDP growth it will restore full employment.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<\/ul>\n\n\t<h3>Sorry, quiz 277 is now closed.<\/h3>\n\t<p> You can find the answers and discussion <a href=\"\/blog\/?p=28400\">here<\/a><\/p>\n\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[58],"tags":[],"class_list":["post-28398","post","type-post","status-publish","format-standard","hentry","category-saturday-quiz","entry","no-media"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/28398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28398"}],"version-history":[{"count":0,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/28398\/revisions"}],"wp:attachment":[{"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}