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