How did “trickle-down economics” differ from economic strategies used in previous administrations?(1 point)ResponsesIt used deregulation of industry to spur economic growth.It used deregulation of industry to spur economic growth.It focused on balancing the budget by increasing revenue.It focused on balancing the budget by increasing revenue.It involved cutting taxes for those at the top of the economic ladder.It involved cutting taxes for those at the top of the economic ladder.It wanted to improve life for the working-class and businesspeople.It wanted to improve life for the working-class and businesspeople.

1 answer

The response that best captures how "trickle-down economics" differed from economic strategies used in previous administrations is:

"It involved cutting taxes for those at the top of the economic ladder."

Trickle-down economics, which became prominent during the Reagan administration, emphasized tax cuts for corporations and the wealthy with the belief that these benefits would eventually "trickle down" to the rest of the population. This was a shift from earlier economic strategies that often focused on more direct support for the middle and lower classes, as well as increased government spending to stimulate the economy.