|Name: _________________________||Period: ___________________|
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. What is laudable about the author's work?
(a) The author provided a clear and concise liberal viewpoint.
(b) The author did provide a convincing argument that our economic system had been broken at some time in the past.
(c) The author provided a clear and concise conservative viewpoint.
(d) The author had majored in international economics.
2. Why was housing becoming difficult to obtain in the 1980s?
(a) The construction industry was experiencing labor conflicts.
(b) The cost of housing was sky-rocketing.
(c) Congressional actions began to place restrictive regulations on house buying.
(d) Wages were not keeping up with inflation, which made housing harder to obtain.
3. What resulted when paper money was not backed with gold or silver?
(a) Money not backed by precious metal led to booming economies and political stability.
(b) Money not backed by precious metal led to deflation and political upheaval.
(c) Money not backed by precious metal led to inflation and political upheaval.
(d) Money not backed by precious metal led to higher deficits.
4. 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) Trailer parks were developed as suburban subdivisions.
(c) Some storefront small business buildings were converted to property that was sold for private homes.
(d) In some towns, student housing was converted to property that was sold to homeowners.
5. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(b) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.
(c) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.
(d) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.
Short Answer Questions
1. What resulted from the Mandrake Mechanism?
2. What historic reference is contained in this chapter?
3. Which European bank become the model for the Federal Reserve System?
4. What important aspect about the economic history of the country did the author fail to mention?
5. What was one of the strongest arguments in favor of bank regulation versus nationalization?
This section contains 648 words
(approx. 3 pages at 300 words per page)