Which one of the following is an example of contractionary monetary policy?
A reduction in the reserve requirement ratio for commercial banks
An increase in the central bank policy interest rate
An increase in the rate of personal income tax
A planned budget surplus by the government
176 exam-style questions on AQA A Level Economics 2.4 Financial markets and monetary policy (A-level only), covering 2.4.1 The structure of financial markets and financial assets, 2.4.2 Commercial banks and investment banks, 2.4.3 Central banks and monetary policy, and 2.4.4 The regulation of the financial system. Each one has a worked solution and a mark scheme showing where the marks go.