At the time of Reagan's Economic Recovery Tax Act of 1981, the top marginal rate for the highest ...

At the time of Reagan's Economic Recovery Tax Act of 1981, the top marginal rate for the highest income group of Americans was

A) 15 percent.
B) 28 percent.
C) 39 percent.
D) 70 percent.
E) 91 percent.

The idea of tax cuts for the rich that will then trickle down to working people in the form of additional jobs and income, is consistent with

A) Keynesian economics.
B) the Milton Friedman hypothesis.
C) the aggregate demand hypothesis.
D) supply-side economics.
E) pluralism.

The essence of supply-side economics is that

A) government spending should be used to prime the pump and aid economic recovery.
B) industry should be centrally coordinated to ensure a steady supply of necessary goods.
C) taxes should be cut to stimulate investment, and government regulation of business should be decreased.
D) government should tax heavily and redistribute the money in an equitable fashion.
E) business should be forced by government to allow inventories of goods to grow, thereby reducing costs.

President __________ embraced supply-side economics.

A) Clinton
B) Carter
C) Roosevelt
D) Reagan
E) Kennedy

Traditionally, the Federal Reserve has tended to be more concerned about __________ than

A) deficits; inflation.
B) unemployment; deficits.
C) unemployment; inflation.
D) the reelection of Congress; the reelection of the president.
E) inflation; unemployment.

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At the time of Reagan's Economic Recovery Tax Act of 1981, the top marginal rate for the highest ...

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