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