#1
Which economic policy did Ronald Reagan advocate for during his presidency?
Monetarism
ExplanationEmphasized controlling the money supply to curb inflation.
#2
What was the central goal of Reagan's economic policy?
Reducing government spending
ExplanationFocused on decreasing government expenditures.
#3
What was the nickname given to the economic policies of Reagan's presidency?
The Reagan Revolution
ExplanationDescribed the significant economic changes during his administration.
#4
Which industry experienced significant deregulation under Reagan's administration?
Energy
ExplanationUnderwent reduced government oversight.
#5
What was the name of the legislation passed during Reagan's presidency that cut taxes across the board?
The Economic Recovery Tax Act
ExplanationImplemented broad-based tax reductions.
#6
Which term is commonly used to describe Reagan's approach to reducing government regulations and taxes?
Supply-side economics
ExplanationStressed cutting taxes and regulations to stimulate economic growth.
#7
What was the effect of Reagan's economic policies on inflation during his presidency?
Inflation decreased
ExplanationResulted in a decline in inflation rates.
#8
Reagan's domestic policies were heavily influenced by which economic theory?
Monetarism
ExplanationGuided by controlling money supply to stabilize the economy.
#9
Which social program faced significant cuts during Reagan's presidency?
Food Stamps
ExplanationExperienced reductions in funding.
#10
Reagan's administration implemented policies that contributed to the end of which Cold War-era conflict?
The Cold War
ExplanationContributed to the conclusion of Cold War tensions.
#11
Which group benefited most from Reagan's tax cuts?
High-income households
ExplanationPrimarily advantaged wealthier individuals.
#12
Which economic indicator improved significantly during Reagan's presidency?
Gross Domestic Product (GDP) growth
ExplanationShowed notable expansion during his tenure.
#13
What was the impact of Reagan's 'War on Drugs' policies?
An increase in prison populations
ExplanationResulted in a rise in the number of incarcerated individuals.
#14
Which region of the United States generally saw the most support for Reagan's policies?
South
ExplanationReceived substantial backing for Reagan's economic initiatives.
#15
Reagan's economic policies were influenced by the ideas of which economist?
Milton Friedman
ExplanationGuided by the economic theories of Friedman.