The Reagan Revolution: A Quiz on Reaganomics
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 Read moreof 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.
- 1.
What economic policy was associated with President Ronald Reagan?
- A.
Supply-side economics
- B.
Demand-side economics
- C.
Monetary economics
- D.
Keynesian economics
Correct Answer
A. Supply-side economics -
- 2.
Reaganomics aimed to reduce government intervention in which sector?
- A.
Healthcare
- B.
Education
- C.
Finance
- D.
Economy
Correct Answer
D. Economy -
- 3.
Reaganomics was introduced in which decade?
- A.
1960s
- B.
1970s
- C.
1980s
- D.
1990s
Correct Answer
C. 1980s -
- 4.
Which term is commonly used to describe the 1980s economic boom?
- A.
The Great Expansion
- B.
The Reagan Boom
- C.
The Golden Age
- D.
The Roaring Twenties
Correct Answer
B. The Reagan Boom -
- 5.
What was the primary goal of Reaganomics tax cuts?
- A.
Increase government revenue
- B.
Reduce income inequality
- C.
Boost consumer spending
- D.
Stimulate business investment
Correct Answer
D. Stimulate business investment -
- 6.
Reaganomics advocated for deregulation in which industry?
- A.
Energy
- B.
Telecommunication
- C.
Healthcare
- D.
Banking
Correct Answer
A. Energy -
- 7.
What was the outcome of Reaganomics on inflation?
- A.
Increase
- B.
Stable
- C.
Decrease
- D.
Fluctuate
Correct Answer
C. Decrease -
- 8.
What theory served as the foundation for Reagan's economic policies?
- A.
Marxism
- B.
Monetarism
- C.
Socialism
- D.
Capitalism
Correct Answer
B. Monetarism -
- 9.
What was the "trickle-down effect" in Reaganomics?
- A.
Wealthy individuals invest in the stock market
- B.
Tax cuts for the wealthy benefit everyone
- C.
Government spending on social programs
- D.
The economy will "trickle down" to all levels
Correct Answer
B. Tax cuts for the wealthy benefit everyone -
- 10.
How did the federal deficit change during Reagan's presidency?
- A.
It increased.
- B.
It decreased.
- C.
It remained unchanged.
- D.
It fluctuated.
Correct Answer
A. It increased. -
- 11.
Reaganomics aimed to reduce the role of which organization?
- A.
United Nations
- B.
World Bank
- C.
International Monetary Fund
- D.
Federal Reserve
Correct Answer
D. Federal Reserve -
- 12.
What was the popular term used to describe the 1987 stock market crash during Reagan's presidency?
- A.
Black Friday
- B.
Black Thursday
- C.
Black Monday
- D.
Black Wednesday
Correct Answer
C. Black Monday -
- 13.
What was the concept behind Reaganomics' "supply-side" approach?
- A.
Lower taxes for corporations
- B.
Increase government spending
- C.
Reduce interest rates
- D.
Raise tariffs
Correct Answer
A. Lower taxes for corporations -
- 14.
What was the overall impact of Reaganomics on the national debt?
- A.
Significant reduction
- B.
Minimal change
- C.
Dramatic increase
- D.
No impact
Correct Answer
C. Dramatic increase -
- 15.
Which demographic was often critical of Reaganomics' policies?
- A.
Young adults
- B.
Low-income earners
- C.
Elderly population
- D.
Business owners
Correct Answer
C. Elderly population -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Jul 24, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 21, 2023Quiz Created by
Amit Mangal
- Cartography Quizzes
- Civics Quizzes
- El112 Quizzes
- English Quizzes
- Geography Quizzes
- History Quizzes
- Humanities Quizzes
- Law Quizzes
- Linguistics Quizzes
- Logic Quizzes
- Math Quizzes
- Philosophy Quizzes
- Political Science Quizzes
- Politics Quizzes
- Science Quizzes
- Social Science Quizzes
- Sociology Quizzes
Back to top