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

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? Chapters 5-6 Nearer to the Heart's Desire; Building the New World Order.

Multiple Choice Questions

1. Some tactics include cherry-picking examples while oversimplifying causes.
(a) One tactic is to accuse others of lying about the facts.
(b) One tactic is providing great detail about their causes.
(c) One tactic is cherry-picking examples while oversimplifying causes.
(d) One tactic is having others provide testimonials on their behalf.

2. What caused the economy to get into such a state that the government was compelled to bail out banks?
(a) The International Monetary Fund had become dangerously unstable.
(b) The US Congress failed to pass legislation that would have boosted the economy.
(c) The argument could be made that lax lending practices and overly speculative investments had forced the government to use tax dollars in the bailouts.
(d) The American people were taking out too many home loans.

3. What major banks failed in 1972?
(a) Unity Bank fell in 1972, as did the Commonwealth Bank of Detroit.
(b) In 1972, Bank of America and Citibank failed.
(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.

4. What is the author's main complaint?
(a) Central to the author's thesis was that a few scheming people were constantly and consistently strapping the government with the costs of the bad loans.
(b) Central to the author's thesis was that a few scheming people were constantly and consistently strapping the IMF with the costs of the bad loans.
(c) Central to the author's thesis was that a few scheming people were constantly and consistently strapping the Federal Reserve with the costs of the bad loans.
(d) Central to the author's thesis was that a few scheming people were constantly and consistently strapping the taxpayer with the costs of the bad loans.

5. 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 ninety-nine 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 fithy 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.

Short Answer Questions

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

2. What may have contributed to the problems of the S&Ls in the 1980s?

3. What is the true function of the FDIC?

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

5. What was one of the strongest arguments in favor of bank regulation versus nationalization?

(see the answer key)

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