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Flashcards on Reaganomics
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Who was the President that implemented Reaganomics?
Ronald Reagan
What was the main goal of Reaganomics?
Stimulate economic growth and reduce government intervention
Which economic theory influenced Reaganomics?
Supply-side economics
What tax cuts were implemented under Reaganomics?
Reduction in individual and corporate tax rates
What was the impact of Reaganomics on federal spending?
Increase in military spending and reduction in social welfare programs
What was the nickname given to Reagan's economic policies?
Trickle-down economics
Did Reaganomics lead to an increase or decrease in the national debt?
Increase
What was the impact of Reaganomics on income inequality?
Widened income gap between the rich and the poor
What was the result of Reaganomics on GDP growth?
Mixed results, with periods of high growth and recessions
Did Reaganomics have a long-term or short-term impact on the US economy?
Both short-term and long-term impact
What were the three pillars of Reaganomics?
Tax cuts, deregulation, and reduction in government spending
How did Reaganomics affect the stock market?
Stock market experienced significant growth
What was the impact of Reaganomics on inflation?
Reduced inflation rates
Did Reaganomics lead to an increase or decrease in government regulation?
Decrease
What were the criticisms of Reaganomics?
Increased income inequality and favoring the wealthy
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Test Your Knowledge
Who was the President that implemented Reaganomics?
Ronald Reagan
George Washington
Barack Obama
Franklin D. Roosevelt
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What was the main goal of Reaganomics?
Increasing government control
Stimulate economic growth and reduce government intervention
Implement communism
Decrease national debt
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Which economic theory influenced Reaganomics?
Keynesian economics
Supply-side economics
Marxism
Monetarism
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What tax cuts were implemented under Reaganomics?
Increase in individual and corporate tax rates
Reduction in individual and corporate tax rates
No changes in tax rates
Tax cuts only for the poor
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What was the impact of Reaganomics on federal spending?
Increase in social welfare programs
Increase in military spending and reduction in social welfare programs
Increase in government regulation
No change in federal spending
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What was the nickname given to Reagan's economic policies?
Neo-Keynesian economics
Trickle-down economics
Socialist economics
Communist economics
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Did Reaganomics lead to an increase or decrease in the national debt?
Increase
Decrease
No change
Eliminated the national debt
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What was the impact of Reaganomics on income inequality?
Widened income gap between the rich and the poor
Decreased income gap between the rich and the poor
No impact on income inequality
Eliminated income inequality
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What was the result of Reaganomics on GDP growth?
Consistent high growth
Mixed results, with periods of high growth and recessions
Stagnant GDP growth
Negative GDP growth
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Did Reaganomics have a long-term or short-term impact on the US economy?
Only short-term impact
Only long-term impact
Both short-term and long-term impact
No impact on the US economy
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