Asked by Sarah Gaines on May 06, 2024
Verified
Lowering tax rates was the main priority of the
A) classicals.
B) Keynesians.
C) monetarists.
D) supply-siders.
E) economic behaviorists.
Lowering Tax Rates
The act of reducing the percentage at which income or corporate profits are taxed, which can affect economic behaviors and government revenues.
Supply-siders
Economists who believe reducing barriers for people to produce (supply) goods and services, like lower taxes, will stimulate economic growth.
- Attain an understanding of the different schools of economic thought and their foremost champions.
- Understand the basic principles of supply-side economics, focusing on the importance of tax rates.
Verified Answer
SM
sandra mercardoMay 12, 2024
Final Answer :
D
Explanation :
Lowering tax rates was the main priority of supply-siders, who believed that reducing taxes would incentivize individuals and businesses to work harder and invest more, ultimately leading to economic growth and increased government revenue. This philosophy became popular during the Reagan administration in the 1980s.
Learning Objectives
- Attain an understanding of the different schools of economic thought and their foremost champions.
- Understand the basic principles of supply-side economics, focusing on the importance of tax rates.
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