One result of the Reagan budget and tax cuts was that
A) the income of the rich was reduced and that of the poor increased.
B) the income of the rich was increased and that of the poor reduced.
C) the budget was balanced.
D) defense spending was reduced substantially.
E) a huge surplus of federal money became available.
Question -2-One result of the Reagan program was that
A) the wealthiest 5 percent of Americans received a massive tax hike.
B) many social services were cut.
C) the budget was balanced.
D) defense spending was cut.
E) many social services were increased.
Question -3-Which of the following is associated with supply-side economics?
A) Bill Clinton
B) John Maynard Keynes
C) H. Ross Perot
D) Ronald Reagan
E) Franklin Roosevelt
Question -4-The economist who advocated using fiscal policy to manage the economy was
A) Milton Friedman.
B) Oliver Wendell Holmes, Jr.
C) John Maynard Keynes.
D) Ralph Nader.
E) William Kennedy.
Question -5-Which of the following is true of Keynes's views of economics?
A) They are the opposite of laissez-faire.
B) They oppose government intervention in the marketplace.
C) They argue that deficit spending by the government is necessary to combat a recession.
D) All of the above.
E) None of the above.
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