It is time for the third weekly quiz with the prize a copy of my book, Myth Busting Economics. For those who don’t think they can win, just buy it – it is on the shelves in good book retailers.

Last week, HSC economics student Kurt won as the contest got down to the second tie-breaker question to determine the winner.

Now to the third quiz.

The Federal Budget will be delivered on Tuesday, 12 May. Treasurer Joe Hockey will get to his feet at 7.30pm, Canberra time, to outline the governments fiscal plans. The questions this week are related to the budget but I suspect we will not need a tie breaker, but there is one just in case.

The question:

What, in $ million, will be the budget balance for 2015-16 announced by Treasurer Joe Hockey on Budget night? The answer needs to be to the nearest $1 million. For background, the Mid Year Economic and Fiscal Outlook (released in December 2014) was forecasting a budget deficit of $31,239 million for 2015-16.

Tie breaker:

As a per cent of GDP, what will the budget papers be forecasting for the level of net government debt for June 2018? For background, MYEFO was forecasting net government debt to be 17.0 per cent.

Good luck!

Send all entries to [email protected]  before 7.30pm on Tuesday, 12 May, 2015 Canberratime to be in it to win it.