The Creature from Jekyll Island: A Second Look at the Federal Reserve Quiz | Eight 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 I. What Creature Is This? Chapter 2 The Name of the Game Is Bailout.

Multiple Choice Questions

1. Why did banks ask for interest-only payments?
(a) The bank would arrange for interest payments only to take the burden off the customer.
(b) The bank would arrange for interest payments only so that their customers could keep a good credit rating>
(c) The bank would arrange for interest payments only to keep the profits coming in.
(d) The bank would arrange for interest payments only to keep the loan viable.

2. Who does the Federal Reserve depend on to bail out the country in times of economic collapse?
(a) The Federal Reserve turns to the foreign investors to bail out the country in times of economic collapse.
(b) The Federal Reserve turns to Congress to bail out the country in times of economic collapse.
(c) The Federal Reserve turns to the banks to bail out the country in times of economic collapse.
(d) The Federal Reserve turns to the taxpayer to bail out the country in times of economic collapse.

3. What did the U.S. government do to support banks?
(a) The U.S. government guaranteed depositor money through Congress.
(b) The U.S. government forgave the debot of failing banks.
(c) The U.S. government guaranteed depositor money through private insurance companies.
(d) The U.S. government guaranteed depositor money through the FDIC.

4. The banking system before the Federal Reserve System allowed banks to lend out what percentage of money against one percent in deposits.
(a) The banking system before the Federal Reserve System allowed banks to lend out more money than they held in deposits, up to fithy percent loaned out with only one percent in deposits.
(b) The banking system before the Federal Reserve System allowed banks to lend out more money than they held in deposits, up to ninety-nine percent loaned out with only one percent in deposits.
(c) The banking system before the Federal Reserve System allowed banks to lend out more money than they held in deposits, up to sixty percent loaned out with only one percent in deposits.
(d) The banking system before the Federal Reserve System allowed banks to lend out more money than they held in deposits, up to twenty percent loaned out with only one percent in deposits.

5. This conspiracy theory about the Federal Reserve pointed the finger at the meeting on Jekyll Island that occurred in 1910.
(a) The conspiracy theory surrounding the Federal Reserve was thought to be hatched at the 1910 Jekyll Island meeting.
(b) The conspiracy theory surrounding the Federal Reserve was thought to have originated at the 1904 World's Fair.
(c) The conspiracy theory surrounding the Federal Reserve was thought to have originated during FDR's administration.
(d) The conspiracy theory surrounding the Federal Reserve was thought to have originated during the Great Depression.

Short Answer Questions

1. What was the impact of the creation of new money on the currency?

2. What type of person was Paul Moritz Warburg?

3. What happened when a debtor defaulted on a loan?

4. What is the true function of the FDIC?

5. What economic group is hit the hardest by an inflation?

(see the answer key)

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