The Declining Economy (Leaving Cert History): Flashcards
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Time period of Reaganomics
Time period of Reaganomics
1980s
Economic theory behind Reaganomics
Economic theory behind Reaganomics
Supply-side economics
Four key areas of Reaganomics
Four key areas of Reaganomics
Tax cuts, spending cuts, deregulation, inflation control
Top individual tax rate cut under Reaganomics
Top individual tax rate cut under Reaganomics
From 70% to 50%
Theory influencing Reaganomics tax policy
Theory influencing Reaganomics tax policy
Laffer Curve
Reagan's peacetime military spending
Reagan's peacetime military spending
Largest peacetime military buildup in U.S. history
Fed Reserve Chair who controlled 1980s inflation
Fed Reserve Chair who controlled 1980s inflation
Paul Volcker
Average GDP growth rate 1983-1989
Average GDP growth rate 1983-1989
3.5% per year
Unemployment rate peak in 1982
Unemployment rate peak in 1982
10.8%
Unemployment by end of Reagan's term
Unemployment by end of Reagan's term
5.4%
Inflation rate in 1980
Inflation rate in 1980
Over 13%
Inflation rate by 1983
Inflation rate by 1983
About 4%
National debt change 1980-1989
National debt change 1980-1989
Tripled from 2.7T
Industries deregulated under Reaganomics
Industries deregulated under Reaganomics
Oil, telecommunications, airlines