Economic Development
Did Reagan favor government regulation or deregulation?
Deregulation
Who was president at the time?
Ronald Reagan
Which technological advancement was no longer just in the car?
Cell phone
What is a trade deficit?
An imbalance of imports and exports
Did Reagan favor the economy or the environment more?
Economy
True or false: There was minimal inflation during the recession of 1982 because of falling steel prices.
False - Oil prices
Did Reagan support or oppose gov regulation in the economy?
Opposed
What was the cost of the IBM PC computer?
$2,000
What were tax cuts designed to do?
Stimulate investments
The public was concerned about a hole in the _____
Ozone Layer
Name an act that was used to cut taxes
Economic Recovery Tax Act
Define Laissez-faire
The Belief of limited government (social darwinism, competition, survival of the fittest)
An increase in _________ was created due to these technological advancements.
Labor/jobs
Who was facing increased competition in global trade?
American companies
What tragedy sparked the Emergency Protection Act?
Bophal Tragedy
Name 2 key features of Reaganomics?
tax cuts, supply side, trickle down, gov program cuts, increased military, etc.
What was Reagan’s solution to provide jobs and help the economy?
The four-pillar system
Which advancement enhanced the poor connection from over the mountains?
Cable TV
Did the gap between imports and exports increase or decrease during the 1980s?
Increase
Which president enforced the Clean Air Act?
George HW Bush
How much did the national debt increase when Reagan was in office?
Tripled
What were the 4 aspects of the 4 pillar system?
reduce the growth of government spending, reduce the federal income tax and capital gains tax, reduce government regulation, and tighten the money supply in order to reduce inflation.
Why did people quickly purchase at home computers?
People thought they would take over work world
When did the gap between imports and exports greatly increase? (5 year span)
From 1980 to 1985
Federal lands were opened for which three resources to be drilled/produced?
Oil, Coal, and Timber (wood)