THE RISE OF POLITICAL CONSERVATISM 1980 1992
THE ELECTION OF RONALD REAGAN IN 1980
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Reaganomics
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Reaganindustry
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Reaganopoly
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Ronaldomics
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Detailed explanation-1: -While running against Reagan for the Presidential nomination in 1980, George H. W. Bush had derided Reaganomics as “voodoo economics". Similarly, in 1976, Gerald Ford had severely criticized Reagan’s proposal to turn back a large part of the Federal budget to the states.
Detailed explanation-2: -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-3: -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.