Question

1.

At the heart of Reagan's plan was a 30% cut in __________.

sales tax

income tax

military spending

the space program

2.

Reagan led a movement to reduce the oversight of government in a number of industries, a process known as __________.

regulation

deregulation

supply-side economics

demand-push inflation

3.

During Reaganomics, __________ grew from $909 billion to over $2.6 trillion.

tax revenue

the national debt

the budget deficit

defense spending

Answer 1

1 sales tax

2. deregulation

Answer 2

The correct answers to these questions are the following.

1) The correct answer is B) income tax

At the heart of Reagan's plan was a 30% cut in income tax.

2) The correct answer is B) deregulation.

Reagan led a movement to reduce the oversight of government in a number of industries, a process known as deregulation.

3) The correct answer is C) the budget deficit.

During Reaganomics, the budget deficit grew from $909 billion to over $2.6 trillion.

We are talking about parts of the economic program established by Ronald Reagan commonly called "Reaganomics." Since he became President, Reagan tried to solve the difficult economic situation inherited by the Jimmy Carter administration. Reagan based his economic policy on four areas: the reduction of the federal income tax, the reduction of federal spending, the limitation of government regulation, and the reduction of inflation.