Which of These Statements Best Characterizes the State of the American

question 27

Multiple Choice

Which of these statements best characterizes the state of the American economy by the end of Reagan's presidential administration?

• A) Most Americans experienced an improvement to their standard of living in both wages and consumer options, despite high interest rates and an overvalued dollar in foreign markets.
• B) The sharp rise in defense spending resulted in a rise in prices and low wages.
• C) The United States, due to strong overseas markets, continued to be the world's largest creditor nation.
• D) While the very wealthy continued to prosper, the middle class made the largest gains financially, resulting primarily from Reagan's tax cut.