Question

What was the Reagan administration hoping to achieve by deregulating some American industries?

Choose 1 answer:
Choose 1 answer:

(Choice A)
A
A greater supply of oil from American wells, which were hampered from reaching their full potential due to environmental regulations

(Choice B)
B
Higher wages for employees as minimum wages were set too low by state governments

(Choice C)
C
It hoped to lower costs for employers, leading to cheaper consumer goods.

Answer 1

C

It hoped to lower costs for employers, leading to cheaper consumer goods.

Step-by-step explanation:

Reagan deregulation sought to loosen federal regulation of economic activities, and he made sure he appointed key officials who shared this agenda.

Then according to historian William Leuchtenburg, by 1986, the Reagan administration eliminated close to half of the federal regulations and policy that had existed in 1981.

Reagan significantly reduced the maximum tax rate, which affected the highest income earners, and lowered the top marginal tax rate from 70% to 50%;

Also in 1986 he further reduced the rate to 28%.

The inflation-adjusted rate of growth in federal spending