Question

Which statement best summarizes how Reagan’s economic policies affected the US economy? There was a decline in unemployment, but people made less money and paid higher taxes. There was a significant rise in prosperity triggered by a reduction in federal spending and the national debt. There was an increase in defense spending because of tax increases and the elimination of the national debt. There was overall prosperity, but federal spending and the national debt also increased.

Answer 1

The correct answer is D) There was overall prosperity, but federal spending and the national debt also increased.

The statement that best summarizes how Reagan’s economic policies affected the U.S. economy is: There was overall prosperity, but federal spending and the national debt also increased.

Reaganomics was the term that identified the economic policies of President Ronald Reagan in 1981. President Reagan tenure was from 1981 to 1989 and was the 40th President of the U.S. The economic policies of Reagan aimed to cut taxes, increase military spending, and the decrease social spending. What Reagan believed about the economy as the basis for Reaganomics was that the economy would improve if Americans had more money to spend.

Answer 2

There was overall prosperity, but federal spending and the national debt also increased.(d)

Further Explanations:

Reagan's economic policies also known as the Reaganomics aimed at the economic policies such as tax deduction, increase in military overheads and low social expenses. He believed that the economy of the nation will only increase when the citizens will have enough money. Apart from his economic policies, he is credited a lot for his national security strategies.

Ronald Reagan the 40th President of America was born on 6th February 1911 in a low-income family of northern Illinois and graduated from Eureka College in 1932. He started his early career as a Hollywood actor and a Union leader. He had also served as the California’s 33rd governor. After becoming President he gained the fame of being modern influential Conservatism. One of his tremendous initiatives was the Strategic Defense Initiative, a projectile defense system to guard United States from Nuclear attacks and submarines ballistic attack.  

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Answer Details:

Grade: High school

Subject: US History

Chapter: US President

Keywords:

Ronald Reagan, northern Illinois, Eureka College, Union leader, Hollywood actor, Conservatism, Strategic Defense Initiative, Nuclear, Reaganomics