Question 1
The tax cuts of the 1980s
A) helped many poor families join the middle class.
B) favored the middle class more than the rich.
C) were accompanied by increased regulation of the insurance industry.
D) benefited the wealthy far more than middle- or lower-income Americans.
Question 2
The administration of Ronald Reagan was characterized by
A) increasing hostility between the United States and the Soviet Union.
B) a reduction in federal taxation.
C) high ethical and moral standards among his appointees to federal office.
D) a decline in military spending.
Question 3
According to supplyside economic theory,
A) the national debt should be continued indefinitely.
B) reduction of taxes will encourage business expansion, which will ultimately stimulate the whole economic system.
C) conservation of natural resources is the key to long-term economic health.
D) the nation's most important resource is its people.
economic question
Economic practice question