Which of the following economic developments occurred during Ronald Reagan's first term?
A) A budget surplus
B) A drop in the balance of trade deficit
C) The lowering of tax receipts
D) a surging stock market
E) All of these choices

Question

Quizplus · Accepted Answer

During Ronald Reagan's first term, one of the notable economic developments was a surging stock market, part of the broader economic expansion of the 1980s. The period was marked by significant tax cuts, increased defense spending, and deregulation, which contributed to a booming stock market. However, it did not lead to a budget surplus or a drop in the balance of trade deficit; in fact, the federal budget deficit grew significantly during Reagan's presidency, and the trade deficit also increased. Tax receipts initially fell following the tax cuts but later increased as the economy expanded.

Which of the Following Economic Developments Occurred During Ronald Reagan's