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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 1: The Grifter Archipelago; or, Why the Tea Party Doesn't Matter.

Multiple Choice Questions

1. What refers to a public entity for the trading of company stock and derivatives at an agreed price?
(a) Bond market.
(b) Capital market.
(c) Treasury market.
(d) Stock market.

2. When did Lehman Brothers declare bankruptcy?
(a) November, 2007.
(b) September, 2008.
(c) September 2009.
(d) October, 2008.

3. Where did Matt Taibbi hear Sarah Palin's acceptance speech in Chapter 1?
(a) The Hewlitt Packard Center, San Jose, CA.
(b) The Superdome, New Orleans, LA.
(c) The Xcel Center in St. Paul, MN.
(d) Wall Street, New York, NY.

4. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?
(a) Capitalism.
(b) Free-market economics.
(c) Socialism.
(d) Bubble economy.

5. The Bear Stearns Companies, Inc. was based in what US city?
(a) Seattle.
(b) Chicago.
(c) Los Angeles.
(d) New York.

Short Answer Questions

1. What refers to a market for securities (debt or equity), where business enterprises and governments can raise long-term funds?

2. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.

3. According to the author, the Tea Party believes that the economy is self-correcting as long as commerce and _______ are separated.

4. According to the author, the top one percent of Americans own almost what percent of the wealth?

5. Ronald Reagan was the thirty-third governor of what state?

(see the answer key)

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