Which of the following economic developments occurred during Ronald Reagan's first term?
A) A budget surplus
B) A drop in the balance of trade deficit
C) The lowering of tax receipts
D) a surging stock market
E) All of these choices
Question 2
According to the theories of Reaganomics,
A) by increasing revenue from taxes, the country could spend more for defense programs.
B) by cutting taxes, the country's economy would expand and produce more revenue for the federal government.
C) by reducing defense programs, the country could spend more money on domestic programs.
D) by eliminating the income tax and adopted a national sales tax, the country could afford to spend more money on both domestic and defense programs.
E) by raising the income tax and increased corporate taxes, the country could expand its domestic and defense programs.
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