|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Section I. What Creature Is This? Chapters 5-6 Nearer to the Heart's Desire; Building the New World Order.
Multiple Choice Questions
1. What major banks failed in 1972?
(a) In 1972, Bank of America and Citibank failed.
(b) Unity Bank fell in 1972, as did the Commonwealth Bank of Detroit.
(c) In 1972, First Bank of Michigan and New York Bank both failed.
(d) First Bank of California and Wells Fargo Bank failed in 1972.
2. What risky loan activities have banks participated in?
(a) Banks loaned depositors' money out to to the US government in times of economic downturns.
(b) Banks loaned depositors' money out to risky debtors who would likely not be able to pay the loans off.
(c) Banks loaned depositors' money out to poor people during the Great Depression.
(d) Banks loaned depositors' money to foreign governments who refused to repay the loans.
3. The nationalization of banks has occurred during conservative or liberal administrations?
(a) The nationalization of banks occurred during liberal administrations.
(b) The nationalization of banks occurred when there is equal balance among all branches of government.
(c) The nationalization of banks occurred during conservative administrations.
(d) The nationalization of banks occurred during conservative as well as liberal administrations.
4. How did many people feel about those who went too far into debt?
(a) Many felt that people who were in debt had been encouraged to do so by political figures.
(b) Many argued that those in deep debt should be forgiven much of their dept because of the reclining economy.
(c) Many felt that the nation had been taught to rely too much on credit.
(d) 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.
5. What did the author feel was the ultimate goal in establishing the IMF and the World Bank?
(a) The ultimate goal was to put the United Nations in control of world currency.
(b) The ultimate goal was to bring about a single world government that had control of all currencies.
(c) The ultimate goal was to establish the Euro as the single world currency.
(d) The ultimate goal was to establish the US dollar as the single world currency.
Short Answer Questions
1. What was the main argument in favor of nationalizing banks?
2. What has caused the economy's boom-bust cycle?
3. How were the policies of FDR's administration a departure from capitalism?
4. How did the government provide economic support to Lockheed Corporation in 1970?
5. How did the New World Order develop?
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