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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 6: The Trillion-dollar Band-Aid - Health Care Refor.

Multiple Choice Questions

1. During which President's administration did the head of the Commodity Futures Trading Commission allow Wall Street speculation to be recognized as "bona fide hedging"?
(a) George H. Bush.
(b) George W. Bush.
(c) Barack Obama.
(d) Bill Clinton.

2. According to the author, what philosophy translates to "My facts are facts and your facts are not facts"?
(a) "Objective reality."
(b) "Consumerism."
(c) "Capitalism."
(d) "Republican realism."

3. The Commodity Exchange Act replaced what earlier act from 1922?
(a) The Cotton Act.
(b) The Farm America Act.
(c) The Grain Futures Act.
(d) The Farm Futures Act.

4. When did Alan Greenspan earn his doctorate in economics?
(a) 1982.
(b) 1970.
(c) 1959.
(d) 1977.

5. The Commodity Exchange Act was established under whose administration?
(a) Franklin D. Roosevelt.
(b) Gerald Ford.
(c) Dwight Eisenhower.
(d) Theodore Roosevelt.

Short Answer Questions

1. What does the CFTC stand for?

2. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.

3. What is an independent self-regulatory organization and watchdog of the commodities and futures industry in the United States?

4. Barack Obama taught constitutional law at what university?

5. In 2008, what 24-year-old of San Bernardino, CA, quit school because she suddenly couldn't afford the gas that it took for the daily trip?

(see the answer key)

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