The tax cut signed by President George W. Bush in 2001 was premised largely on

1. The tax cut signed by President George W. Bush in 2001 was premised largely on

demand-side economics.

supply-side economics.

fiscal policy.

monetary policy.

Keynesian economics.

2. The phrase that best describes the shift in America's world position from the pre- to the post-World War II eras is

internationalism to isolationism.

isolationism to internationalism.

containment to isolationism.

interventionism to isolationism.

Interventionism to internationalism.

3. The American preference for equality of opportunity is consistent with Americans'

trust in the marketplace.

belief in liberty.

support for competition in the private sector.

belief in individualism.

All of the answers are correct.

4. Supply-side economics is based primarily on

stimulation of the business (supply) component.

government stimulation of consumer demands.

a repudiation of trickle-down theory.

increases in taxation.

increases in government regulation.

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