The Flexible response was a policy implemented by President John F. Kennedy in 1961 in order to substitute the New Look and the massive retaliation policy that Dwight Eisenhower's had introduced, which consisted on responding using a greater force in case of an attack, and such force involved nuclear weapons.
On the other hand, the flexible response policy aknowledges the Mutual assured destruction if nuclear weapons are involved, as the enemy with shoot back too. It aimed to provide a manner of responding to agression across the spectrum of war but without the employment of nuclear weapons.
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Reaganomics is President Ronald Reagan's conservative economic policy that attacked the 1981-1982 recession and stagflation. Stagflation is an economic contraction combined with double-digit inflation.
Reagan's position was dramatically different from the status quo. Prior presidents Lyndon Johnson and Richard Nixon had expanded the government's role. Reagan pledged to make cuts in four areas.