Contractionary fiscal policy

Contractionary fiscal policy

12th Grade

10 Qs

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Contractionary fiscal policy

Contractionary fiscal policy

Assessment

Passage

Other

12th Grade

Easy

Created by

Anika Rehan

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary aim of contractionary fiscal policy?

To increase government spending

  • To slow down economic growth and reduce inflation

  • To expand the money supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did Japan primarily implement its contractionary fiscal policy in the mid-2000s?

  • By reducing government spending and increasing the rate of income tax

  • By significantly increasing public sector pay

  • By expanding public works projects

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a major effect of reducing public works spending in Japan?

Accelerated infrastructure development

  • Slowed economic growth in the construction industry

  • Increased public sector employment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was Japan's public debt as a percentage of GDP in the mid-2000s?

  • Below 100%

Exactly 150%

  • Exceeding 180%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What long-term goal does contractionary fiscal policy aim to achieve besides reducing inflation?

Increase in consumer spending

Fiscal sustainability

Expansion of government services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector did Japan prioritize for increased spending as part of its contractionary fiscal adjustments?

Healthcare

Technology

Construction

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the impact of income tax adjustments (50-55% in 2009 to 57% in 2013) on employees in Japan?

Japan's labor market has historically been characterized by wage stickiness, where wages do not adjust quickly downward even in the face of economic downturns. This phenomenon is partly due to cultural factors, employment practices that respect job security for senior citizens and their employment, and labor laws that emphasize job security and seniority over flexibility in wage adjustments. Thus, low-skilled employees who also had stagnant or slightly rigid wages were usually let go, increasing unemployment for part-time jobs or younger generations.

Japan's labor market has historically been characterized by wage stickiness, where wages do not adjust quickly downward even in the face of economic downturns. This phenomenon is partly due to cultural factors, employment practices that respect job security for senior citizens and their employment, and labor laws that emphasize job security and seniority over flexibility in wage adjustments. Thus, low-skilled employees who also had stagnant or slightly rigid wages were usually let go, increasing employment for part-time jobs in technology and electronics.

Cyclical unemployment increased

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