According to President Reagan’s model for supply-side economics, the first step to triggering a cycle of growth was: A. reducing taxes.
B. raising taxes.
C. regulating businesses.
D. creating government programs.
According to President Reagan’s model for supply-side economics, the first step to triggering a cycle of growth was:
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The correct answer is A. reducing taxes.
President Reagan’s model for supply-side economics posited that by reducing taxes on individuals and businesses, it would increase disposable income, incentivize spending and investment, and ultimately stimulate economic growth. This approach aimed to create a more favorable environment for businesses to expand, leading to job creation and increased overall economic activity. If you have more questions or need further clarification, feel free to ask!