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What is the primary goal of contractionary fiscal policy?
Practice Questions
Q1
What is the primary goal of contractionary fiscal policy?
Stimulate economic growth
Reduce inflation
Increase employment
Boost consumer spending
Questions & Step-by-Step Solutions
What is the primary goal of contractionary fiscal policy?
Steps
Concepts
Step 1: Understand what contractionary fiscal policy means. It is a way for the government to reduce spending or increase taxes.
Step 2: Know that the main reason for using contractionary fiscal policy is to control inflation, which is when prices of goods and services go up.
Step 3: Realize that by spending less or collecting more taxes, the government can help slow down the economy and reduce inflation.
No concepts available.
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