Answered: ow did “trickle-down economics” differ…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

How did “trickle-down economics” differ from economic strategies used in previous administrations?

A. It used deregulation of industry to spur economic growth.

B. It focused on balancing the budget by increasing revenue.

C. It involved cutting taxes for those at the top of the economic ladder.

D. It wanted to improve life for the working-class and businesspeople.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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