US Economic History Test 1

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20 questions · All questions on one page

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History Economic History (University) University (USA History) USA USA History Standards & AP

What is this test? for University History, USA — University (USA History) level, USA.
For University students studying History in the USA
Section: History Economic History (University) · Education: University · Part: History Economic History (University) · Country: USA

Knowledge of history is essential for understanding the vast accumulation from past to present and for establishing cause-and-effect relationships among historical events.

This test will help you develop chronological thinking and prepare for history questions on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

Which person dominated oil?

A) John D. Rockefeller

B) Astor

C) Carnegie

D) Vanderbilt

Question 2

Name the person who controlled Standard Oil.

A) Andrew Carnegie

B) John D. Rockefeller

C) Jay Gould

D) Cornelius Vanderbilt

Question 3

What caused 1929 crash?

A) War

B) Drought

C) Speculation plus weakness

D) Plague

Question 4

Which term means "Made steel cheap"?

A) a trust

B) the Homestead Strike (1892)

C) laissez-faire

D) the Bessemer Process

Question 5

What caused 2021 inflation?

A) Supply plus stimulus

B) Tax hikes

C) Oil glut

D) No spending

Question 6

Which person controlled Standard Oil?

A) Andrew Carnegie

B) John D. Rockefeller

C) Jay Gould

D) Cornelius Vanderbilt

Question 7

What is the Fed chair role?

A) Printing cash

B) Collecting taxes

C) Setting rate policy

D) Running banks

Question 8

What best defines the Bessemer Process?

A) Made textiles

B) Made food

C) Made oil

D) Made steel cheap

Question 9

What was the GI Bill economy?

A) Suburbs and degrees

B) No change

C) City crowding

D) Farm return

Question 10

What was Reaganomics?

A) Tax hikes

B) 1980s tax cuts

C) No change

D) War spending only

Question 11

What was the Panic of 1819?

A) Boom

B) War

C) First depression

D) Gold rush

Question 12

What is the Fed's tool?

A) Tax rates

B) Wages

C) Prices

D) Interest rates

Question 13

Name the person who sent first telegraph message.

A) Samuel Morse

B) Bell

C) Edison

D) Tesla

Question 14

How long was 1873 slump?

A) Months

B) Years long

C) Weeks

D) Decade plus

Question 15

Which of the following best defines the Panic of 1893?

A) War

B) Drought

C) Gold reserve fear

D) Silver flood

Question 16

Name the person who killed Second Bank.

A) Clay

B) Biddle

C) Taney

D) Andrew Jackson

Question 17

Which of the following best defines the business cycle?

A) Boom bust pattern

B) Flat line

C) Steady rise

D) Random walk

Question 18

What best defines the GDP drop?

A) One tenth

B) About one third

C) One half

D) None

Question 19

What best defines the dot-com bust?

A) Housing crash

B) Bank panic

C) 2000 tech crash

D) Oil shock

Question 20

What best defines quantitative easing?

A) Rate hikes

B) Tax cuts

C) Gold buying

D) Bond buying stimulus

US Economic History Test 1

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