Reaganomics

Although President Reagan proposed and passed a 25% tax cut in his first years, __________.

economic growth actually slowed

he wanted a 30% tax cut

How did Reaganomics impact the U.S. economy?

Inflation rose.

The trade deficit increased.

Immediately after President Reagan implemented his tax plan, which of the following happened?

The country slid into recession.

How many times did President Reagan raise taxes during his presidency?

11

George H. W. Bush, a critic of Reagan's economic plan, initially called it __________ economics.

voodoo

What did President Reagan do for the U.S. defense industry?

He increased the percentage of the U.S. gross domestic product (GDP) spent on defense

He raised the pay of those in the U.S. Armed Forces.

Which of the following was targeted by the Reagan administration for reform?

Arsenic levels in drinking water

Who was one of Ronald Reagan's sharpest critics?

George H. W. Bush

President Reagan was widely credited with which of the following?

The dissolution of the Soviet Union

Ending stagflation

Which of the following was a reason why the U.S. Congress resisted Ronald Reagan's plan to cut entitlements such as Social Security?

They feared future re-election losses.

Which of the following was one of the principal ideas of Reaganomics?

Lowering taxes on the top earners

Which of the following was assumed by many to happen as a result of President Reagan's economic plan?

The extra money in the hands of the rich would eventually reach the poor.

Which of the following is not a form of government regulation?

Voting Rights Act

Which of the following was included in President Reagan's economic plan?

Reducing regulations