From New Deal to USMCA – 50 Questions on America’s Economic Journey
This 50 Economic Development Study Quiz covers U.S. economic principles, history, GDP, trade, fiscal and monetary policy, economic indicators, development milestones, global organizations, and key economic events. Each question includes four answer choices with the correct answer provided for self-checking.
Comment your score below after tallying your correct answers. Perfect for economics review, social studies units, business classes, or test prep. Share this quiz with classmates to understand how America’s economy has grown and evolved over time.
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Top 50 Economic Development Study Quiz
Results
#1. Which 2008 financial crisis led to the collapse of Lehman Brothers?
#2. Which U.S. president signed the Affordable Care Act (ACA) into law in 2010?
#3. The “Works Progress Administration (WPA)” was part of which president’s New Deal?
#4. Which U.S. agency collects taxes and enforces tax laws?
#5. Which U.S. industry grew rapidly during the COVID-19 pandemic in 2020-2021?
#6. The “Reagan Revolution” in the 1980s emphasized which economic policies?
#7. What does GDP stand for?
#8. Which U.S. president introduced the “Great Society” programs to fight poverty?
#9. Which U.S. economic sector employs the most workers as of 2025?
#10. The “dot-com bubble” burst in which year?
#11. Which U.S. car company received a government bailout during the 2008 financial crisis?
#12. What does the term “monetary policy” refer to?
#13. What is the name of the U.S. central banking system?
#14. Which U.S. trade agreement replaced NAFTA in July 2020?
#15. The “Panic of 1907” led to the creation of which institution in 1913?
#16. What is the name of the U.S. program that provides health insurance to seniors aged 65 and older?
#17. What is the name of the U.S. government agency that insures bank deposits up to $250,000?
#18. What does “GDP per capita” measure?
#19. What does the term “fiscal policy” refer to?
#20. Which U.S. infrastructure program was signed by President Biden in 2021?
#21. What is the current official currency of the United States?
#22. The “Sherman Antitrust Act of 1890” was designed to do what?
#23. What does the Consumer Price Index (CPI) measure?
#24. Which U.S. law established the minimum wage and overtime pay?
#25. What does the term “trade deficit” mean?
#26. What is the name of the economic concept where a country produces goods it can make most efficiently?
#27. Which U.S. president signed the North American Free Trade Agreement (NAFTA) into law?
#28. Which U.S. industry is known as the “backbone of American manufacturing” and employs millions?
#29. The “Baby Boom” generation (born 1946-1964) had what major effect on the U.S. economy?
#30. Which U.S. president was in office during the 2008 financial crisis?
#31. Which U.S. city is known as the “Financial Capital of the World”?
#32. Which term refers to the total value of all goods and services produced within a country in a year?
#33. What is the name of the index that measures stock market performance of 500 large U.S. companies?
#34. The “Bretton Woods Conference” in 1944 established which two global financial institutions?
#35. The “COVID-19 recession” in the U.S. occurred mainly in which year?
#36. Which U.S. economic period saw rapid industrial growth and westward expansion from 1865 to 1900?
#37. What is the name of the economic theory that emphasizes tax cuts and deregulation?
#38. Which U.S. president created the Social Security system in 1935?
#39. The 1929 stock market crash led to which major economic crisis?
#40. Which federal agency was created in 2008 to oversee housing finance giants Fannie Mae and Freddie Mac?
#41. What is the current U.S. federal minimum wage (as of 2025)?
#42. Which term describes a prolonged period of economic decline with high unemployment?
#43. What is the current U.S. national debt approximately (as of 2025)?
#44. Which U.S. stock market index tracks 30 large publicly traded companies?
#45. Which U.S. president is known for the “New Deal” economic programs during the Great Depression?
#46. Who is known as the “Father of Modern Economics” for writing “The Wealth of Nations”?
#47. What is the name of the U.S. agency that regulates the stock market?
#48. Which U.S. state has the largest economy by GDP (as of 2025)?
#49. Which term describes a general increase in prices and fall in purchasing value of money?
#50. What does the term “stagflation” refer to?
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