The Policies of Ronald Reagan

question 70

Multiple Choice

The policies of Ronald Reagan

• A)expanded spending on food stamps.
• B)increased spending on school lunch programs.
• C)decreased spending on the military.
• D)raised taxes on the wealthy.
• E)more than doubled the national debt.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.

Marginal Utility

Marginal Utility is the additional satisfaction or utility received by consuming one more unit of a good or service.

Action Figures

Small, collectible figures often representing characters from movies, comic books, or video games, popular with both children and collectors.

Utility

In economics, the satisfaction or benefit derived from consuming a good or service.