Take this test on economy, government, and history

[seamusTX]

On #33, the words "per person" throws me a curve.

That's one way to make "trick" questions -- put in superfluous information.

If income and spending are equal, then they equal per person or per anything else.

I'm lucky in having a knack for trick questions, most of the time.

- Jim

[KBCraig]

On #30, is it "government spending" that's being increased. Less tax + more spending = more debt

But the government can create debt with a balanced budget, by issuing bonds or incurring future obligations.

Substitute "deficit" for "debt", and it would be correct.

[RioShooter]

31/33

[stroo]

30's answer is pure Keynesian economics.

[seamusTX]

Right.

- Jim

[tbranch]

28 out of 33 here as well.

Tom

[thankGod]

Well, I missed three of them. They were all on the economy.

I think I better go re-balance my checkbook.

[KBCraig]

30's answer is pure Keynesian economics.

Yes, but the question was about what government is likely to do. As recent events have show, they are likely to respond with Keynesian nonsense.

[LedJedi]

*hangs head in shame*

25/33 - 75% - I bombed the economic questions. :(

[HankB]

32/33 . . . I had a mental lapse and missed the question with the quote from the Gettysburg Address . . . oops.

During the late 1990s, the federal government had more income than spending, but it still had debt incurred in earlier years.

And oddly enough, during the "Clinton Surplus" years, the national debt continued to increase.

Creative accounting - they assert there's a "surplus" by not considering interest payments on prior debt and not counting future obligations.

Hmmm - I wonder how many people are "in the black" if they don't consider things like mortgage interest, and they continue running up credit card debt?

[seamusTX]

And oddly enough, during the "Clinton Surplus" years, the national debt continued to increase.

That's partly because the U.S. Treasury has to sell bonds to the Social Security trust fund.

That is the only way that the Social Security trust fund can be invested.

Maybe there's more to the issue. I am certainly not an expert on the federal budget.

- Jim

[Pete]

31 out of 33.

I guess I could be president.

[bridge]

30/33...benefits of a Liberal Arts education.

[slowpoke]

27 of 33. duh,thats what i get for being a H.S dropout.

[Kythas]

You answered 31 out of 33 correctly — 93.94 %