THE RISE OF POLITICAL CONSERVATISM 1980 1992
PRESIDENT RONALD REAGANS FOREIGN POLICY
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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President Reagan’s economic policies were based on what theory?
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Socialism
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Demand-Side Economics
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Supply-Side Economics
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Totalitarianism
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Explanation:
Detailed explanation-1: -Reaganomics was influenced by the trickle-down theory and supply-side economics. Under President Reagan’s administration, marginal tax rates decreased, tax revenues increased, inflation decreased, and the unemployment rate fell.
Detailed explanation-2: -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-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.
There is 1 question to complete.