3.1 Which of the following is not an element of fiscal policy?
A Government spending
B Government borrowing
D Exchange rates
3.2 Which of the following is associated with a negative Public Sector Net Cash Requirement?
A The government is running a budget deficit.
B The government's expenditure exceeds its income.
C The government is running a budget surplus.
D Public Sector Debt Repayment (PSDR) is high.