THE RISE OF POLITICAL CONSERVATISM 1980 1992
REAGANOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Reaganomics
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Clinton’s plan to balance the federal budget
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NAFTA
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Tech boom of the 1990s
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Detailed explanation-1: -Reaganomics refers to the economic policies of Ronald Reagan, the 40th U.S. president, serving from 1981–1989. His economic policies called for widespread tax cuts, decreased social spending, increased military spending, and the deregulation of domestic markets.
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: -Supply-Side Economics. Reaganomics policy based on the theory that allowing companies the opportunity to make profits, and encouraging investment, will stimulate the economy and lead to higher standards of living for everyone. Argued that tax cuts can be used stimulate economic growth.
Detailed explanation-4: -Over the eight years of the Reagan Administration: 20 million new jobs were created. Inflation dropped from 13.5% in 1980 to 4.1% by 1988. Unemployment fell from 7.6% to 5.5%