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Question 846  monetary policy, fiscal policy

Below is the Australian central bank’s cash rate.

Graph

From 2011 to 2017 the Australian central bank has implemented:



Question 847  monetary policy, fiscal policy

Below is the Australian federal government’s budget balance as a percent of GDP. Note that the columns to the right of the vertical black line were a forecast at the time. The x-axis shows financial years, so for example the 06/07 financial year represents the time period from 1 July 2006 to 30 June 2007.

Graph

Comparing the 2008/09 financial year to the previous one, the Australian federal government implemented:



Question 1043  fiscal policy, business cycle

The elected government would be likely to implement expansionary fiscal policy in the or phases of the business cycle?