THE 1970S 1969 1979
FOREIGN POLICIES OF PRESIDENT NIXON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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borrowing from foreign countries would help cover the costs of domestic programs
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significant increases in government spending would help reduce unemployment
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broad tax cuts and financial deregulation would promote economic expansion
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reducing trade barriers would result in a budget surplus
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Detailed explanation-1: -Milton Friedman stated, “Reaganomics had four simple principles: Lower marginal tax rates, less regulation, restrained government spending, noninflationary monetary policy. Though Reagan did not achieve all of his goals, he made good progress."
Detailed explanation-2: -Key Takeaways. Supply-side economics is an economic theory that postulates tax cuts for the wealthy result in increased savings and investment capacity for them that trickle down to the overall economy.
Detailed explanation-3: -President Ronald Reagan unveils a new tax program, calling it “a second American Revolution for hope and opportunity.” Upon taking office, Reagan called for a phased 30% tax cut, but Congress would only agree to a 25% cut. The media called it Reaganomics.
Detailed explanation-4: -The opposite of supply-side is demand-driven Keynesian theory. President Reagan used supply-side economics to combat stagflation. It was dubbed “Reaganomics, ” for this reason. Research shows that tax cuts don’t always translate to increased growth.