Asked by Sarah Wilkerson on May 28, 2024
Verified
Tax cuts proposed by the Kennedy and Reagan administrations were followed by robust economic growth.
Robust Economic Growth
Strong and sustained increase in the economic activity of a country or region.
Tax Cuts
A reduction in the amount of taxes imposed by a government on individuals or businesses, intended to stimulate economic growth or achieve other economic objectives.
Kennedy
A reference to John F. Kennedy, the 35th President of the United States, known for his contributions to civil rights, space exploration, and foreign policy.
- Understand the impact of macroeconomic policies on economic growth.
Verified Answer
JS
Jaspreet SinghMay 30, 2024
Final Answer :
True
Explanation :
Both the Kennedy tax cuts in the early 1960s and the Reagan tax cuts in the early 1980s were followed by periods of robust economic growth in the United States. The Kennedy tax cuts helped to spur growth by increasing consumer demand, while the Reagan tax cuts aimed to stimulate economic activity by reducing the tax burden on individuals and businesses, leading to increased investment and job creation.
Learning Objectives
- Understand the impact of macroeconomic policies on economic growth.