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. The Rothschilds financed the conflict in which what historic leader was defeated by England?
(a) The Rothschilds helped the English defeat Napoleon.
(b) The Rothschilds helped the English defeat King Louis XVI.
(c) The Rothschilds helped the English defeat Kaiser Wilhem II.
(d) The Rothschilds helped the English defeat Vladimir Lenin.

2. What were the additional goals after the Federal Reserve was established in 1910?
(a) The goals were to craft legislation to bring about: the elimination of foreign interests; recapturing the bond market; and, shifting losses from the the US to foreign investors.
(b) The goals were to craft legislation to bring about: the elimination of bank oversight; debt elimination; and, shifting losses from the taxpayers to banks.
(c) The goals were to craft legislation to bring about: the elimination of savings and loans; recapturing the foreign loan market; and, shifting losses from the banks to the state governments.
(d) The goals were to craft legislation to bring about: the elimination of small rival banks; recapturing the industrial loan market; and, shifting losses from the banks to the taxpayers.

3. What was the goal of the secret society founded by Lord Alfred Milner?
(a) A secret society, founded by Lord Alfred Milner, had as its goal the eradication of disease and hunger.
(b) A secret society, founded by Lord Alfred Milner, had global peace as its main goal.
(c) A secret society, founded by Lord Alfred Milner, had as its goal the democratization of the entire world.
(d) A secret society, founded by Lord Alfred Milner, had as its goal the dominance of the world through money controls.

4. What role did J. P. Morgan have in Milner's secret society?
(a) J.P. Morgan financed all sides of political struggles so that no matter who won, that side would be beholding to him and his organizations.
(b) J.P. Morgan financed the sides of political struggles that agreed with his conservative views.
(c) J.P. Morgan financed the sides of political struggles that agreed with his liberal views.
(d) J.P. Morgan financed all sides of political struggles to boost his chances for elective office.

5. What is the basic structure of the U.S. monetary system?
(a) The monetary system in the U.S. was constructed for debt to be necessary in order for the economy to flourish.
(b) The monetary system in the U.S. was constructed for debt to be necessary in order for the money supply to remain in existence.
(c) The monetary system in the U.S. was constructed for debt to be necessary in order for Federal Reserve to remain in control of monetary concerns.
(d) The monetary system in the U.S. was constructed for debt to be necessary in order for the Congress to pass tax increases.

6. What did the author predict would become the world government?
(a) China would become the world government.
(b) The US would become the world government.
(c) Europe would become the world government.
(d) The UN was the organization that would become the world government.

7. What was the economic outlook in the U.S. following the Civil War?
(a) During the years following the Civil War, the U.S. economy went through a recession.
(b) During the years following the Civil War, the U.S. economy experienced inflationary times.
(c) During the years following the Civil War, the U.S. economy experienced a period of deflation.
(d) During the years following the Civil War, the U.S. economy went through extremes of the boom-bust cycle.

8. How many revolutions did Russia actually undergo?
(a) Russia went through five revolutions.
(b) Russia went through seven revolutions.
(c) Russia went through two revolutions.
(d) Russia went through three revolutions.

9. How were German U-boats successful in World War I?
(a) U-boats and these were highly successful at disrupting the flow of war materials from America.
(b) U-boats and these were highly successful at disrupting the progression of forces from England.
(c) U-boats and these were highly successful at disrupting the flow of war materials to England.
(d) U-boats and these were highly successful at disrupting the flow of war materials to France.

10. What portion of the U.S. debt did a large portion of the tax dollar pay for?
(a) The U.S. debt continued to grow with a large portion of tax dollar going into paying only the interest on the debt.
(b) The U.S. debt continued to grow with a large portion of tax dollar going into paying the principal on the debt.
(c) The U.S. debt continued to grow with a large portion of tax dollar going to entitlement programs.
(d) The U.S. debt continued to grow with a large portion of tax dollar going to US war efforts.

11. What caused the economic downturn in 1818?
(a) In 1818 an economic downturn began as the US Congress tightened loan requirements and shrunk the money supply by calling in old loans.
(b) In 1818 an economic downturn began as the IMF tightened loan requirements and shrunk the money supply by calling in old loans.
(c) In 1818 an economic downturn began as the Federal Reserve tightened loan requirements and shrunk the money supply by calling in old loans.
(d) In 1818 an economic downturn began as the banks tightened loan requirements and shrunk the money supply by calling in old loans.

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

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

14. What solid case did governments make for fiat monetary systems?
(a) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would raise the debt ceiling.
(b) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the budget deficit.
(c) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase taxes.
(d) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the money supply.

15. What caused the boom-bust cycle in the U.S. economy following the Civil War?
(a) The boom-bust cycle was due to the lack of oversight by the US Congress.
(b) The boom-bust cycle was due to the widespread use of fiat money and the implementation of many economic tricks that were doomed to failure.
(c) The boom-bust cycle was due to the widespread use of paper currency not based by the gold standard.
(d) The boom-bust cycle was due to the establishment of the Federal Reserve.

Short Answer Questions

1. What disagreement did Alexander Hamilton and Thomas Jefferson have about a central bank?

2. What was the name of the central bank established in 1791?

3. What were the results of the Russian revolutions?

4. What other organizations were spawned from Milner's secret society?

5. How did some organizations profit during boom-bust cycles by buying bonds?

(see the answer keys)

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