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. The author made what sports analogy to describe the problems with the banking system?
(a) Using a soccer analogy, the problems with the banking system were presented in a fairly understandable way.
(b) Using a baseball analogy, the problems with the banking system were presented in a fairly understandable way.
(c) Using a golf analogy, the problems with the banking system were presented in a fairly understandable way.
(d) Using a football analogy, the problems with the banking system were presented in a fairly understandable way.

2. How did many people feel about those who went too far into debt?
(a) Many argued that people who went too far into debt had done this on their own--nobody had forced people into the mortgages or credit cards.
(b) Many felt that people who were in debt had been encouraged to do so by political figures.
(c) Many felt that the nation had been taught to rely too much on credit.
(d) Many argued that those in deep debt should be forgiven much of their dept because of the reclining economy.

3. If the debtors stopped paying banks altogether, what action would the Federal Reserve System take?
(a) If the debtors stopped paying altogether, the Federal Reserve System refused to back the bad debt.
(b) If the debtors stopped paying altogether, the Federal Reserve System fined them.
(c) If the debtors stopped paying altogether, the Federal Reserve System filed suit in Federal Court.
(d) If the debtors stopped paying altogether, the Federal Reserve System gave the banks more money.

4. Why did banks offer debtors more credit?
(a) Banks offered more credit to debtors to help improve their credit rating.
(b) Banks offered more credit to debtors to increase interest payments to the them.
(c) Banks offered more credit to debtors to so they could increase their purchasing power.
(d) Banks offered more credit to debtors to help them purchase homes.

5. What do some feel was the reason for establishing the Federal Reserve?
(a) The Federal Reserve System was concocted to stabilize the economy.
(b) The Federal Reserve System was concocted not to stabilize the economy but to put economic control into the hands of a few people who agreed not to compete with one another.
(c) The Federal Reserve System was concocted not to stabilize the economy and create an economy that was distributed equally among the population.
(d) The Federal Reserve System was concocted to put economic control into the hands of the people.

Short Answer Questions

1. What was the main cause of the economic meltdown in 2008?

2. This conspiracy theory about the Federal Reserve pointed the finger at the meeting on Jekyll Island that occurred in 1910.

3. Who does the Federal Reserve depend on to bail out the country in times of economic collapse?

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

5. Who was the mastermind behind the Federal Reserve?

(see the answer key)

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