Final answer:
Supply-side economics under Reagan, known as 'Reaganomics,' focused on tax cuts for the wealthy to stimulate economic growth.
Explanation:
Supply-side economics was President Reagan's economic policy that emphasized tax cuts for the wealthy to stimulate economic growth, believing that the benefits would 'trickle down' to lower income classes through job creation and increased wealth. Reagan's implementation of supply-side economics became known as 'Reaganomics.' This approach aimed to increase private investment and production by lowering tax rates, which Reagan believed would lead to overall economic growth.
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