The Reagan Revolution: A Quiz on Reaganomics

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  • 1/15 Questions

    What economic policy was associated with President Ronald Reagan?

    • Supply-side economics
    • Demand-side economics
    • Monetary economics
    • Keynesian economics
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About This Quiz

Reaganomics, also known as supply-side economics, was an economic policy associated with President Ronald Reagan during the 1980s. This quiz aims to test your knowledge about the key principles and outcomes of Reaganomics. The policy sought to reduce government intervention in the economy, advocating for lower taxes, deregulation, and decreased public spending. By stimulating investment and production, proponents believed that wealth would "trickle down" to all levels of society, ultimately fostering economic growth.

The quiz comprises questions covering various aspects of Reaganomics, such as its goals, impact on inflation, the stock market crash, and the national debt. Test your understanding of the economic theories that underpinned Reagan's policies and the sectors targeted for deregulation. Discover whether the policy was successful in achieving its intended outcomes and its effects on different demographics.Challenge yourself with this quiz to gauge your grasp of Reaganomics' influence on the economic landscape during one of the most transformative periods in American history.

The Reagan Revolution: A Quiz On Reaganomics - Quiz

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  • 2. 

    Which term is commonly used to describe the 1980s economic boom?

    • The Great Expansion

    • The Reagan Boom

    • The Golden Age

    • The Roaring Twenties

  • 3. 

    Reaganomics aimed to reduce government intervention in which sector?

    • Healthcare

    • Education

    • Finance

    • Economy

  • 4. 

    How did the federal deficit change during Reagan's presidency?

    • It increased.

    • It decreased.

    • It remained unchanged.

    • It fluctuated.

  • 5. 

    What was the concept behind Reaganomics' "supply-side" approach?

    • Lower taxes for corporations

    • Increase government spending

    • Reduce interest rates

    • Raise tariffs

  • 6. 

    Reaganomics was introduced in which decade?

    • 1960s

    • 1970s

    • 1980s

    • 1990s

  • 7. 

    What was the primary goal of Reaganomics tax cuts?

    • Increase government revenue

    • Reduce income inequality

    • Boost consumer spending

    • Stimulate business investment

  • 8. 

    Reaganomics aimed to reduce the role of which organization?

    • United Nations

    • World Bank

    • International Monetary Fund

    • Federal Reserve

  • 9. 

    What was the "trickle-down effect" in Reaganomics?

    • Wealthy individuals invest in the stock market

    • Tax cuts for the wealthy benefit everyone

    • Government spending on social programs

    • The economy will "trickle down" to all levels

  • 10. 

    What was the outcome of Reaganomics on inflation?

    • Increase

    • Stable

    • Decrease

    • Fluctuate

  • 11. 

    What was the popular term used to describe the 1987 stock market crash during Reagan's presidency?

    • Black Friday

    • Black Thursday

    • Black Monday

    • Black Wednesday

  • 12. 

    What was the overall impact of Reaganomics on the national debt?

    • Significant reduction

    • Minimal change

    • Dramatic increase

    • No impact

  • 13. 

    Reaganomics advocated for deregulation in which industry?

    • Energy

    • Telecommunication

    • Healthcare

    • Banking

  • 14. 

    What theory served as the foundation for Reagan's economic policies?

    • Marxism

    • Monetarism

    • Socialism

    • Capitalism

  • 15. 

    Which demographic was often critical of Reaganomics' policies?

    • Young adults

    • Low-income earners

    • Elderly population

    • Business owners

Quiz Review Timeline (Updated): Jul 24, 2023 +

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  • Current Version
  • Jul 24, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 21, 2023
    Quiz Created by
    Amit Mangal
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