Answer:
Reagan's economic policies came to be known as Reaganomics.
Explanation:
Reagan's economic policies were an attempt to balance the federal budget, increase defence spending, and cut income taxes.
Ronald Reagan promised many things to American citizens, which included strong defence and lowering taxes. The country before his term was facing complications, both in international and domestic affairs. Reagan proposed policies realised to cuts taxes and reducing restrictions on business.
Taxation has always been a subject for Americans. The lower taxes of under Regan policies helped to provide a little additional income to support the GDP. Reaganomics encouraged the government to avoid unnecessary spending just as American households were.