Historical Responses to Economic Challenges Quiz

Test your knowledge on economic history with questions on New Deal, Keynesianism, Great Depression, and more.

#1

Which New Deal program aimed to provide employment opportunities through public works projects?

Social Security Act
Civilian Conservation Corps
Tennessee Valley Authority
Works Progress Administration
#2

Who was the British economist whose ideas laid the groundwork for Keynesian economics?

Milton Friedman
John Maynard Keynes
Adam Smith
Friedrich Hayek
#3

What economic event led to the Great Depression of the 1930s?

Stock market crash of 1929
Oil crisis of 1973
Dot-com bubble burst of 2000
Asian financial crisis of 1997
#4

Who wrote the influential book 'The Wealth of Nations'?

Adam Smith
John Maynard Keynes
Karl Marx
Friedrich Hayek
#5

Which country faced hyperinflation during the early 1920s, leading to economic turmoil?

United States
France
Germany
United Kingdom
#6

What was the primary goal of Franklin D. Roosevelt's 'New Deal' programs?

Balancing the federal budget
Stabilizing the stock market
Reducing unemployment and revitalizing the economy
Promoting isolationist policies
#7

Which economist is known for the theory of comparative advantage?

Karl Marx
David Ricardo
John Stuart Mill
Joseph Schumpeter
#8

During the 1970s, which economic theory gained popularity due to its focus on reducing government intervention and promoting free markets?

Monetarism
Keynesianism
Supply-side economics
Socialism
#9

Which economist is associated with the concept of 'creative destruction'?

Joseph Schumpeter
Milton Friedman
John Maynard Keynes
Friedrich Hayek
#10

What is the economic term for a situation where the demand for a good exceeds its supply, leading to increased prices?

Monopoly
Oligopoly
Inflation
Shortage
#11

Which economic theory advocates for government intervention to address market failures and promote social welfare?

Monetarism
Keynesianism
Supply-side economics
Austrian economics
#12

Who developed the theory of the business cycle, which describes fluctuations in economic activity over time?

John Maynard Keynes
Friedrich Hayek
Milton Friedman
Karl Marx
#13

Which economist is known for his theory of 'rational expectations' in macroeconomics?

Milton Friedman
John Maynard Keynes
Friedrich Hayek
Robert Lucas Jr.

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