US Economy Quiz

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This quiz will ask questions about the economy of the United States and the causes of its prosperity or depression.

Questions and Answers

1.

Before the War of 1812, what act enacted by Jefferson prevented trading with the British and French but its result stimulated industrial growth?
- A.
  
  Monroe Doctrine
- B.
  
  Washington's Farewell Address
- C.
  
  Embargo Act of 1807
- D.
  
  Alien and Sedition Acts
Correct Answer
C. Embargo Act of 1807
2.

The _______ allowed the southern economy to become known as "Cotton King" and also made it easier to make more cotton.

Correct Answer
Cotton Gin
3.

The Specie Circular issued by Andrew Jackson did which of the following?
- A.
  
  Protected farmers from big industries
- B.
  
  Called for buyers to pay in gold or silver, when they purchased their land in the west, in order to bring down the circulation of paper money
- C.
  
  Took the United States off the gold standard
- D.
  
  Allowed former war veterans to exchange their bonds for gold
Correct Answer
B. Called for buyers to pay in gold or silver, when they purchased their land in the west, in order to bring down the circulation of paper money
4.

The Market Revolution was brought about by new technology such as the cotton gin, mew machines and a revolution in transpotation like canals and roads.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
5.

Free market capitalism means that the government does not intervene in business regulations.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
6.

The Open Door Policy in China was an attempt by the United States to secure economic gains in Asia.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
7.

This term ______ was a method used to describe when investors borrowed money from brokers or banks in order to invest in stocks. Investors would do this with a small down payment.

Correct Answer
Buying on Margin
8.

This act was passed by the United States intended to help Germany pay its reparations by allowing US banks to loan money to Germany. With this money, Germany would pay back Britain and France, and Britain and France would pay back the United States.
- A.
  
  Marshall Plan
- B.
  
  Truman Doctrine
- C.
  
  Kellogg-Briand Pact
- D.
  
  Dawes Act
Correct Answer
D. Dawes Act
9.

This term ______ was a word invented in order to mean high unemployment rates and high inflation rates that existed in the United States throughout the 1970s

Correct Answer
Stagflation
10.

During the 1930s, American experienced this influx of prosperity caused by new machinery, cheap energy, and lots of advertising.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

Current Version
Feb 15, 2013

Quiz Edited by
ProProfs Editorial Team
Apr 29, 2012

Quiz Created by
Betsanias

US Economy Quiz

Before the War of 1812, what act enacted by Jefferson prevented trading with the British and French but its result stimulated industrial growth?

The _______ allowed the southern economy to become known as "Cotton King" and also made it easier to make more cotton.

The Specie Circular issued by Andrew Jackson did which of the following?

The Market Revolution was brought about by new technology such as the cotton gin, mew machines and a revolution in transpotation like canals and roads.

Free market capitalism means that the government does not intervene in business regulations.

The Open Door Policy in China was an attempt by the United States to secure economic gains in Asia.

This term ______ was a method used to describe when investors borrowed money from brokers or banks in order to invest in stocks. Investors would do this with a small down payment.

This act was passed by the United States intended to help Germany pay its reparations by allowing US banks to loan money to Germany. With this money, Germany would pay back Britain and France, and Britain and France would pay back the United States.

This term ______ was a word invented in order to mean high unemployment rates and high inflation rates that existed in the United States throughout the 1970s

During the 1930s, American experienced this influx of prosperity caused by new machinery, cheap energy, and lots of advertising.