Education accounted for what percentage of Michigan state expenditures in 2017? (1 point)
14%
16%
30%
27%
The opposite of expansionary fiscal policy is typically called contractionary fiscal policy. Economically, what is the most typical reason that a government would want to engage in contractionary fiscal policy? Explain.(1 point)
Since expansionary fiscal policy can cause tension with neighboring countries, a government might want to engage in contractionary fiscal policy to reduce that tension.
Since expansionary fiscal policy can restrict trade, a government might want to engage in contractionary fiscal policy to increase trade.
Since expansionary fiscal policy can increase inflation, a government might want to engage in contractionary fiscal policy to reduce inflation.
Since expansionary fiscal policy tends to be wildly unpopular with voters, a government might want to engage in contractionary fiscal policy to increase the administration's chances of holding onto governmental power.
