1. Ronald Reagan, the 40th US President, signed the largest tax cut in his country's history in 1981.

2. This policy focused on the economic theory of Laffer Curve.

3. Laffer curve explains the relationship between tax rate and tax revenue.

Yugoslavia was a country in Southeastern and Central Europe that existed from 1918 to 1992.

It came into existence in 1918 [b] following World War I, by the merger of the Kingdom of Serbia with the Provisional State of Slovenes, Croats and Serbs under the name of the Kingdom of Serbs, Croats and Slovenes (which was composed of territories in the former Austria-Hungary). of Hungary), and formed the first federation of South Slavic peoples as a sovereign state, after centuries of foreign rule over the area under the Ottoman Empire and Austria-Hungary. Peter I of Serbia was its first sovereign. The state received international recognition at the Conference of Ambassadors in Paris on 13 July 1922. The official name of the state was changed to Kingdom of Yugoslavia on 3 October 1929.