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Understanding Expansionary and Contractionary Phases Quiz

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1. What is the purpose of an expansionary phase in an economic cycle?

2. What is a contractionary phase in an economic cycle characterized by?

3. Which monetary policy is most likely used during a contractionary phase?

4. Which fiscal policy is most likely used during an expansionary phase?

5. Which of the following is a common outcome of an expansionary phase?

6. Which of the following is a common outcome of a contractionary phase?

7. What is the role of the central bank during an expansionary phase of the economic cycle?

8. What is the main goal of the government during a contractionary phase of the economic cycle?

9. Why might a government implement contractionary fiscal policy during an economic expansion?

10. Which of the following would most likely occur as a result of contractionary fiscal policy during an economic expansion?