ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Richard Nixon
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Jimmy Carter
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Ronald Reagan
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Bill Clinton
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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: -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-3: -These policies are characterized as supply-side economics, trickle-down economics, or “voodoo economics” by opponents, while Reagan and his advocates preferred to call it free-market economics.
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.