{"id":4044,"date":"2009-08-08T16:48:03","date_gmt":"2009-08-08T06:48:03","guid":{"rendered":"https:\/\/billmitchell.org\/blog\/?p=4044"},"modified":"2009-08-08T16:48:03","modified_gmt":"2009-08-08T06:48:03","slug":"saturday-quiz-august-8-2009","status":"publish","type":"post","link":"https:\/\/billmitchell.org\/blog\/?p=4044","title":{"rendered":"Saturday Quiz &#8211; August 8, 2009"},"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.<\/p>\n<p>See how you go with the following five questions. Your results are only known to you and no records are retained.<br \/>\n<!--more--><br \/>\n<h4>Quiz #20<\/h4><ul>\n<li>1. Even though a national government is not revenue constrained, their surpluses can add to national saving if they arise from the private sector spending less than total GDP (income) produced.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<li>2. The latest ABS data shows that total hours worked are falling relative to total persons employed which must mean that underemployment is replacing unemployment.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<li>3. A single banks can rid itself of excess reserves held with the central bank by lending them into the Interbank market whereas a system-wide reserve excess can be eliminated if consumers withdraw their deposits and spend the money on real goods and services.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<li>4. An understanding of modern monetary theory reveals that from a macroeconomic perspective the sovereign government only ever borrows funds that it has already previously spent.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<li>5. If there is a current account deficit, and the domestic private sector seeks to increase its saving as a percentage of GDP, then income adjustments will ensure the government budget is in deficit.<\/li><ul><li>False<\/li><li>True<\/li><\/ul>\n<\/ul>\n<h3>Sorry, quiz 20 is now closed.<\/h3>\n\t<p> scroll down to  find the answers and explanation below.\n\t<br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/><br\/>\n\t<h4>Quiz #20 answers <\/h4><ul>\n<li>1. Even though a national government is not revenue constrained, their surpluses can add to national saving if they arise from the private sector spending less than total GDP (income) produced.<\/li><p>Answer: False<\/p><p>Explanation: You might read <a href=\"https:\/\/billmitchell.org\/blog\/?p=3921\">Debates in modern monetary macro <\/a> or post a comment if you want further information.<\/p>\n<li>2. The latest ABS data shows that total hours worked are falling relative to total persons employed which must mean that underemployment is replacing unemployment.<\/li><p>Answer: False<\/p><p>Explanation: You might read <a href=\"https:\/\/billmitchell.org\/blog\/?p=3975\">The labour market barely hanging on<\/a> or post a comment if you want further information.<\/p>\n<li>3. A single banks can rid itself of excess reserves held with the central bank by lending them into the Interbank market whereas a system-wide reserve excess can be eliminated if consumers withdraw their deposits and spend the money on real goods and services.<\/li><p>Answer: False<\/p><p>Explanation: You might read <a href=\"https:\/\/billmitchell.org\/blog\/?p=3921\">Debates in modern monetary macro <\/a> or post a comment if you want further information.<\/p>\n<li>4. An understanding of modern monetary theory reveals that from a macroeconomic perspective the sovereign government only ever borrows funds that it has already previously spent.<\/li><p>Answer: True<\/p><p>Explanation: You might read <a href=\"https:\/\/billmitchell.org\/blog\/?p=3830\">Why doesnt this attract headlines?<\/a> or post a comment if you want further information.<\/p>\n<li>5. If there is a current account deficit, and the domestic private sector seeks to increase its saving as a percentage of GDP, then income adjustments will ensure the government budget is in deficit.<\/li><p>Answer: True<\/p><p>Explanation: You might read <a href=\"https:\/\/billmitchell.org\/blog\/?p=3951\">How do budget deficits finance saving?<\/a> or post a comment if you want further information.<\/p>\n<\/ul>\n\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 five 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-4044","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\/4044","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=4044"}],"version-history":[{"count":0,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4044\/revisions"}],"wp:attachment":[{"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/billmitchell.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}