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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. How did England and France, at least in part, finance their wars?

2. What country was formed after the second Russian revolution?

3. How were some organizations able to profit during the boom-bust cycle?

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

5. What role did J. P. Morgan have in Milner's secret society?

Short Essay Questions

1. According to Chapter 13, what was the goal of the secret society founded by Lord Alfred Milner?

2. According to Chapter 21, what system was in control of the economy before the Federal Reserve System was established?

3. According to Chapter 9, what culture first developed the the modern equivalent of the banking industry?

4. According to Chapter 19, what were the causes of the Civil War?

5. In Chapter 9, what restrictions were placed on the Bank of Amsterdam which was established in 1609?

6. According to Chapter 13, what was really behind the Russian Bolshevik Revolution?

7. According to Chapter 25, what did the author predict for the U.S. economy?

8. According to Chapter 12, what event sparked the conflicts that led to World War I?

9. According to Chapter 15, why was the use of fiat money disallowed in the United States?

10. In Chapter 12, what were the sales of English and French war bonds used for?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Where did the U.S. dollar originate from? What is the root source of the word "dollar?" What currency did the U.S. Congress adopt in 1785? What problems existed with the early gold standard that was used to back the monetary system?

Essay Topic 2

What event is usually blamed for the Great Depression? What were underlying reasons for the Great Depression? Why were Americans drawn to socialism during this crisis? What finally ended the Depression?

Essay Topic 3

Discuss government bailouts that started in the early 1970s. What happened to these early companies that the government rescued? What types of entities did the government bail out?

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