ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lyndon Johnson ( D )
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Dwight Eisenhower ( R )
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Ronald Reagan ( R )
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Harry Truman ( D )
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Detailed explanation-1: -Reaganomics. In the United States, commentators frequently equate supply-side economics with Reaganomics. The administration of Republican president Ronald Reagan promoted its fiscal policies as being based on supply-side economics.
Detailed explanation-2: -President Ronald Regan was a staunch believer in supply-side economics, resulting in the name “Reaganomics.” It is also known as trickle-down economics. The intended goal of supply-side economics is to explain macroeconomic occurrences in an economy and offer policies for stable economic growth.
Detailed explanation-3: -It reduced personal income tax rates in three annual installments of 5, 10, and 10 percent; lowered the highest marginal tax rate on top earners from 70 to 50 percent; and cut corporate taxes.
Detailed explanation-4: -supply-side economics, also calledtrickle-down economics, theory that focuses on influencing the supply of labour and goods, using tax cuts and benefit cuts as incentives to work and produce goods. It was expounded by the U.S. economist Arthur Laffer (b. 1940) and implemented by Pres. Ronald Reagan in the 1980s.