#1
Which economic event marked the beginning of the Great Depression in the United States?
Stock Market Crash of 1929
ExplanationMajor stock market collapse triggering widespread economic downturn.
#2
Who was the President of the United States during the Great Depression?
Herbert Hoover
ExplanationPresident at the onset of the Depression, faced with its economic challenges.
#3
Which event led to the United States entering World War II?
Attack on Pearl Harbor
ExplanationSurprise military strike prompting U.S. involvement in WWII.
#4
Which economic policy aimed to stimulate post-World War II economic growth in the United States?
Keynesianism
ExplanationEconomic theory emphasizing government spending to boost demand.
#5
Which president implemented the 'New Deal' programs in response to the Great Depression?
Franklin D. Roosevelt
ExplanationPresident who introduced comprehensive programs to combat the Depression.
#6
What was the primary goal of the Federal Deposit Insurance Corporation (FDIC) created during the New Deal era?
To protect bank deposits
ExplanationAgency established to safeguard individuals' bank savings.
#7
Which New Deal program aimed to provide jobs to young men and conservation work?
Civilian Conservation Corps
ExplanationProgram focused on employment for young men and environmental conservation.
#8
What was the purpose of the Social Security Act of 1935?
To provide retirement income
ExplanationEstablished system for retirees to receive financial support.
#9
What was the primary purpose of the Marshall Plan?
To rebuild European economies after World War II
ExplanationInitiative to aid European recovery post-WWII by providing financial assistance.
#10
Which president introduced the concept of 'The Great Society' in the 1960s, focusing on social welfare programs?
Lyndon B. Johnson
ExplanationPresident advocating for societal progress through social programs.
#11
Which of the following events contributed to the end of the Great Depression in the United States?
The entry of the United States into World War II
ExplanationWWII involvement spurred economic recovery and ended Depression.
#12
Which president signed the Economic Recovery Tax Act of 1981, implementing supply-side economic policies?
Ronald Reagan
ExplanationPresident enacting policies focused on cutting taxes and regulations.
#13
Which economist is known for his theory of 'Keynesian economics' that influenced government policies during the Great Depression?
John Maynard Keynes
ExplanationEconomist advocating for government intervention to manage economic cycles.
#14
Which legislation was passed to regulate the financial industry and prevent another economic crisis after the Great Recession?
Dodd-Frank Wall Street Reform and Consumer Protection Act
ExplanationLegislation aimed at reforming financial regulations post-Great Recession.
#15
Which economist is associated with the concept of 'Trickle-down economics'?
Milton Friedman
ExplanationEconomist advocating for policies benefiting the wealthy to stimulate economic growth.
#16
Which president signed the Tax Cuts and Jobs Act of 2017, aimed at reducing corporate and individual tax rates?
Donald Trump
ExplanationPresident enacting tax reforms targeting businesses and individuals.
#17
Which president initiated the 'Reaganomics' economic policies, characterized by tax cuts and deregulation?
Ronald Reagan
ExplanationPresident implementing policies focused on tax reduction and reduced government oversight.