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