Which of the following economic policies did Reagan advocate? Select all that apply.
A.
cutting taxes
B.
reducing regulation
C.
empowering organized labor
D.
increasing Social Security benefits
E.
creating strong safety nets for the poor
A. cutting taxes
B. reducing regulation
The economic policies advocated by Reagan include:
A. Cutting taxes
B. Reducing regulation
The correct answers are A and B.
To determine which of the economic policies Ronald Reagan advocated, let's analyze each option:
A. Cutting taxes: Ronald Reagan indeed advocated for cutting taxes as a major economic policy. He believed that lower taxes would stimulate economic growth by incentivizing individuals and businesses to invest and save more.
B. Reducing regulation: Another economic policy advocated by Reagan was reducing regulation. He sought to lessen government intervention in the economy, believing that excessive regulation hindered economic growth and innovation.
C. Empowering organized labor: Reagan did not advocate for empowering organized labor. On the contrary, his policies were generally seen as unfavorable towards labor unions.
D. Increasing Social Security benefits: Reagan did not advocate for increasing Social Security benefits. His administration implemented policies to curb the growth of Social Security and other entitlement programs.
E. Creating strong safety nets for the poor: Reagan's economic policies typically focused on reducing government spending, including welfare programs. He sought to create a more limited safety net for the poor, as opposed to expanding it.
Therefore, the economic policies advocated by Reagan from the given options are:
A. Cutting taxes
B. Reducing regulation