View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through Section II. A Crash Course on Money, Chapters 7-8 The Barbaric Metal; Fool's Gold.

Multiple Choice Questions

1. What did the issuance of the first paper money lead to?
(a) Stronger economies evolved from the establishment of the paper money system.
(b) The lending process evolved from the establishment of the paper money system.
(c) Banks evolved from the establishment of the paper money system.
(d) The class system evolved from the establishment of the paper money system.

2. 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 help them purchase homes.
(d) Banks offered more credit to debtors to so they could increase their purchasing power.

3. How open to questioning were the original participants of the 1910 meeting?
(a) None of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.
(b) The participants at the 1910 meeting would only agree to talk about the establishment of the Federal Reserve with the New York Times.
(c) Only some of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.
(d) Most of the participants at the 1910 meeting openly talked about the establishment of the Federal Reserve in interviews conducted years later.

4. Why has bank fraud never been eliminated?
(a) Financial experts were taught that the way banking worked in the US was the only way it could work, and so the fraud kept on going.
(b) The Federal Reserve tried to institute European standards which led to the perpetuation of fraud.
(c) The Federal Reserve was controlled by outside political interests that fostered fraud.
(d) The Federal Reserve was influenced by lobbyists who advocated fraudulent regulations.

5. What do many people feel was the real reason behind the establishment of the Federal Reserve?
(a) Many feel that the real reason for creating the Federal Reserve was to keep the middle class from failing.
(b) Many feel that the real reason for creating the Federal Reserve was to keep the rich from becoming too powerful.
(c) Many feel that the real reason for creating the Federal Reserve was to keep rich people in power.
(d) Many feel that the real reason for creating the Federal Reserve was to keep poor people from turning to crime.

Short Answer Questions

1. When the entire banking system failed, what did the Federal government turn to to bolster the failed back up system?

2. What countries did the author point to as failures of the IMF and World Bank?

3. Why did all nations become socialistic in the New World Order?

4. During which president's administration were policies that were a hybrid of socialism and capitalism developed?

5. How did unemployment impact the economic problems?

(see the answer key)

This section contains 777 words (approx. 3 pages at 300 words per page) View a FREE sample