Question

Use the following magazine article excerpt to answer the question. Did Ronald Reagan’s approach to economics work? Would the same approach work today? Nearly thirty-five years after former President Reagan launched an attack on government spending and taxation, people are wondering if the same approach could be applied in light of today’s circumstances. During Reagan’s term, inflation was indeed suppressed. The tax cuts did seem to impact and proceed the end of the recession. But, the government didn’t stop spending. In fact, the federal debt grew nearly tripled while Regan was in office. Supply-side economics proposes that when the supply of money, labor and services increase economic growth will naturally follow. This article might be considered topical if _____. Congress is contemplating an increase in personal income taxes a representative from the Social Security Office announces that they will not adjust according to inflation rates an article proclaims that Americans are facing an unemployment crisis all of the above

Answer 1

Answer: all of the above.

This article would be topical in any of these situations. The first scenario claims that Congress is contemplating an increase in personal income tax. The article is useful because it discusses the effects of tax cuts. The second scenario presents a case in which social security might not be adjusted according to inflation. The article discusses the policies that Reagan implemented in terms of government spending, which might prove useful. Finally, the third scenario discusses an unemployment crisis, and the article addresses the effects on economic growth of having a large supply of money, labor and services, all of which would be altered during an unemployment crisis.

Answer 2

Answer:

a

Explanation: