Android - Is there an equivalent to iOS "Reset Home Screen Layout" on the Nexus 7?

Go to Settings->Apps, swipe to All, scroll and press Launcher, then select Clear data.

Your home screen is as good as new :)

UPDATE: As suggested by Chahk below, a good way to avoid cluttering your homescreen is by going to the Play Store then going to Menu -> Settings and un-checking the Auto-add widgets option.