The Creature from Jekyll Island: A Second Look at the Federal Reserve Test | Final Test - Easy

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 test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What two social classes does the author predict for the future?
(a) Only two classes of people would exist--the middle class and the poor.
(b) Only two classes of people would exist--the rich and the middle class.
(c) Only two classes of people would exist--the rich and the poor.
(d) Only two classes of people would exist--the ruling class and those ruled by it.

2. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.
(b) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.
(c) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(d) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.

3. What action was taken to keep England from sliding into depression?
(a) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the Federal Reserve System.
(b) To keep Britain from sliding into depression, the U.S. dollar was intentionally deflated through the Federal Reserve System.
(c) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the US Congress.
(d) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through an activist Supreme Court.

4. After the 1950s, what was the standard of measure used to estimate the US debt?
(a) The debt was measured in trillions of dollars.
(b) The debt was measured in millions of dollars.
(c) The debt was measured in zillions of dollars.
(d) The debt was measured by the gold standard.

5. What decade marked the beginning of a tremendous surge in U.S. debt?
(a) The U.S. grew its debt tremendously since 1950.
(b) The U.S. grew its debt tremendously since 1960.
(c) The U.S. grew its debt tremendously since 1930.
(d) The U.S. grew its debt tremendously since 1910.

6. What document did the author provide to support the idea of a conspiracy to destroy the U.S. economy?
(a) The author used a confidential report found in Congressional archives to support the idea of conspiracy to destroy the US economy.
(b) The author used a document named the Report from Iron Mountain to support the idea of conspiracy to destroy the US economy.
(c) The author used the minutes of secret Jekyll Island meeting to support the idea of conspiracy to destroy the US economy.
(d) The author used a document obtained by the CIA to support the idea of conspiracy to destroy the US economy.

7. Why did governments favor banks based on a fiat money system?
(a) Governments liked the fiat money because it was a way of confiscating wealth from the rich and redistributing it to the poor.
(b) Governments liked the fiat money because it allowed them to hoard gold.
(c) Governments liked the fiat money because it was a way of confiscating wealth from the citizens without raising taxes.
(d) Governments liked the fiat money because it allowed them to raise taxes.

8. How did governments devalue currency in fiat money systems?
(a) This was accomplished by devaluing the currency through taxation..
(b) This was accomplished by devaluing the currency through legislation.
(c) This was accomplished by devaluing the currency through regulation.
(d) This was accomplished by devaluing the currency through use of the printing press.

9. What would result if the money system returned to the gold standard?
(a) A return to the gold standard would require a period of financial pain and many fortunes would evaporate.
(b) A return to the gold standard would result in instability and deflationary times.
(c) A return to the gold standard would result in instability and inflationary times.
(d) A return to the gold standard would set off a boom-bust cycle.

10. How did England and France, at least in part, finance their wars?
(a) England and France went heavily into war debt causing them to reduce the sizes of their armies.
(b) England and France went heavily into debt until the countries sold their war bonds to the US.
(c) England and France went heavily into debt until the countries had to hire the House of Morgan in partnership with the Rothschilds to sell their war bonds.
(d) England and France went heavily into war debt until they hired political financial excerpts from the Far East.

11. How did large banks react to the Federal Reserve Act?
(a) The leaders of the large banks openly supported the bill and employed congressional lobbyists to fight for it.
(b) The leaders of the large banks put up a good show of opposition, but deep down they did not want this bill to pass even with the compromises.
(c) The leaders of the large banks put up a good show of opposition, but deep down they wanted this bill to pass even with the compromises.
(d) The leaders of the large banks openly opposed the bill and employed congressional lobbyists to fight it.

12. What resulted from the Mandrake Mechanism?
(a) The results of this system included social planning and hidden taxation by means of inflation.
(b) The results of this system included social planning and tax relief.
(c) The results of this system included social planning and hidden taxation by means of deflation.
(d) The results of this system included social planning and hidden taxation and currency devaluation.

13. Why was the use of fiat money disallowed in the United States?
(a) The reason the framers of the Constitution elected to eliminate fiat money was because rampant deflation had recently occurred, and the pain of that was still fresh in the framers' minds.
(b) The reason the framers of the Constitution elected to eliminate fiat money was because rampant inflation had recently occurred, and the pain of that was still fresh in the framers' minds.
(c) The reason the framers of the Constitution elected to eliminate fiat money was because a bank run had recently occurred, and the pain of that was still fresh in the framers' minds.
(d) The reason the framers of the Constitution elected to eliminate fiat money was because a severe economic downturn had recently occurred, and the pain of that was still fresh in the framers' minds.

14. What dispute did President Andrew Jackson have with the leader of The Second Bank?
(a) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle did not favor the gold standard.
(b) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too much sway over the government and the economy.
(c) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too much influence with Congress.
(d) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too power over state banks.

15. What place in history does the Rothschild family hold?
(a) Mayer Amschel Rothschild and his five sons financed European wars from the middle of the eighteenth century into the nineteenth.
(b) Mayer Amschel Rothschild and his five sons financed worldwide wars from the middle of the eighteenth century into the nineteenth.
(c) Mayer Amschel Rothschild and his five sons financed European wars occurring in the twentieth century.
(d) Mayer Amschel Rothschild and his five sons financed European wars occurring after World War II through the Cold War years.

Short Answer Questions

1. What deal did the U.S. make with England during World War I regarding the British ship Lusitania?

2. What caused the economic downturn in 1818?

3. What was the goal of the secret society founded by Lord Alfred Milner?

4. Why was the language of the Federal Reserve Act kept intentionally vague?

5. What bank was The Bank of North America modeled after?

(see the answer keys)

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