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Document E: Economic Statistics

1. Do the data for each of the following support or undermine a claim that

Reaganomics was a success? Why?

*Gross domestic product -

*National debt-

*Maximum income tax rate-

*Percent living in poverty-

*Unemployment-

Respuesta :

Reagan's economic policies were renamed Reaganomics. Reaganomics reduced the taxes and business regulations which resulted in controlling the spending and money supply.

What was Reaganomics?

Reaganomics was based on the Laffer Curve. Economist Arthur Laffer founded it in 1974. The curve showed how tax cuts could revive the economy until the tax base expanded.

The following steps were taken to revive the economy and increase the Gross Domestic Product of the country:

  • They were based on supply-side economics that prioritized tax cuts
  • Reaganomics has reduced tax rates, unemployment, and regulation
  • Inflation is downgraded by monetary policy
  • Reaganomics became a success in the 1980s because it reduced recorded taxes

Thus, this is how Reaganomics was a success and resulted in bringing stability to the economy which increased GDP, and reduce unemployment and debt.

To learn more about Reaganomics:

https://brainly.com/question/12281246

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