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Government Macroeconomic Policies
Quick questions on Fiscal policy explained: O-Level Economics
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is expansionary fiscal policy?Show answer
Expansionary fiscal policy is used to raise aggregate demand, usually in a downturn. The government:
What is contractionary fiscal policy?Show answer
Contractionary fiscal policy is used to lower aggregate demand, usually to control inflation in a booming economy. The government:
What is the budget position?Show answer
Fiscal policy is linked to the government's budget:
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