The Creature from Jekyll Island: A Second Look at the Federal Reserve Quiz | Two Week Quiz A

G. Edward Griffin
This set of Lesson Plans consists of approximately 218 pages of tests, essay questions, lessons, and other teaching materials.
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This quiz consists of 5 multiple choice and 5 short answer questions through Section II. A Crash Course on Money, Chapters 9-10 The Secret Science; The Mandrake Mechanism.

Multiple Choice Questions

1. How did the banks make their money?
(a) The banks made money on principle, not on interest payments.
(b) The banks made money on both interest ad principle payments.
(c) The banks made money on their cash flow.
(d) The banks made money on interest, not principle, payments.

2. What importance does political ideology have on the nationalization of banks?
(a) The Congressional chairman of the Banking Committee influences support for nationalization.
(b) Political lobbyists for banks have great influence on their nationalization.
(c) Liberal ideologues have the great influence on bank legislation.
(d) The nationalization of banks is such a strong part of the overall economy that political ideology did not matter.

3. What historic reference is contained in this chapter?
(a) A history of the laws regulating the economy is contained in this chapter.
(b) A history of legislation regarding the Federal Reserve is contained in this section.
(c) A history of bailouts was outlined in this chapter, starting in 1970 with Penn Central Railroad.
(d) A history of the Federal Reserve chairmain is contained in this section.

4. How did poor regulation contribute to the Savings and Loan crisis of the 1980s?
(a) Government regulations allowed S&Ls to claim assets that had no value, such as community good will toward them, and encouraged bad lending practices to increase home ownership.
(b) Government regulations allowed S&Ls to hoard money to increase their cash flow.
(c) Government regulations allowed S&Ls to file individual bankruptcies.
(d) Government regulations allowed S&Ls did not require them to repay their debtors in full.

5. How was some property converted for home ownership during the 1980s?
(a) Less expensive condominiums that often times had been rental apartments became another way. Rent-to-buy deals popped into the market.
(b) In some towns, student housing was converted to property that was sold to homeowners.
(c) Trailer parks were developed as suburban subdivisions.
(d) Some storefront small business buildings were converted to property that was sold for private homes.

Short Answer Questions

1. Which European bank become the model for the Federal Reserve System?

2. What city became a major part of the welfare state in 1975?

3. What events cause deflation?

4. What risky loan activities have banks participated in?

5. What problems did the economy of the American Colonies incur?

(see the answer key)

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