|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What unreasonable conclusion does the author make about the IMF and World Bank?
2. What was the location of the meeting where the concept of the Federal Reserve was developed?
3. How was some property converted for home ownership during the 1980s?
4. How do conspiracy theorists strengthen their stands?
5. The banking system before the Federal Reserve System allowed banks to lend out what percentage of money against one percent in deposits.
Short Essay Questions
1. According to Chapter 1, what did over-lending by banks result in?
2. According to Chapter 7, how did modern monetary systems originate historically?
3. In Chapter 1, how is a "public run" defined?
4. In Chapter 6, why did all nations, in the author's opinion, become socialistic in the New World Order?
5. According to Chapter 3, what was the result of the first electronic run on banks in 1983?
6. According to Chapter 5, what US president abandoned the gold standard from the US dollar?
7. In Chapter 2, how did the banks make their money?
8. In Chapter 4, what factdors may have contributed to the problems of the S&Ls in the 1980s?
9. According to Chapter 7, what culture was the first to create a currency system based on gold and silver?
10. According to Chapter 6, how did the new world order develop?
Write an essay for ONE of the following topics:
Essay Topic 1
Where was the International Monetary Fund and the World Bank created and what was their stated purpose? What association did they have to the United Nations? What did the author feel was the real goal in establishing the IMF?
Essay Topic 2
When was the first central bank in the United States established? After what historic event was the bank disbanded? What were the views of Alexander Hamilton and Thomas Jefferson about the concept of a central bank? What type of banks developed as the new country expanded?
Essay Topic 3
Discuss the process of passing legislation to establish the Federal Reserve? What were the obstacles and drawbacks? When was the Federal Reserve Act finally passed? What type of language was used in writing the bill?
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