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