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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. According to the author, __________ and other investment banks were responsible for driving up the price of oil through the commodities speculation market.
(a) Deutche Bank.
(b) Bank of America.
(c) Wachovia.
(d) Goldman-Sachs.

2. In December 2008, Chicago Mayor Richard Daley announced that he had leased out the city's parking meters for how long?
(a) 75 years.
(b) 30 years.
(c) 25 years.
(d) 50 years.

3. 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?
(a) Leroy Marcus.
(b) Robert Lukens.
(c) Sam Serenda.
(d) Priscilla Carillo.

4. Five years prior to the moment Priscilla Carillo started living in her car, the commodity indices rose from $13 billion to what amount?
(a) $200 billion.
(b) $317 billion.
(c) $893 billion.
(d) $143 billion.

5. What does the CFTC stand for?
(a) The Commodity Futures Trading Commission.
(b) The Congressional Finance Trust Commission.
(c) The Capitalist Futures Commission.
(d) The Community Finance Trading Commission.

6. In what year did President Nixon decide to rearm the Israelis, angering the oil-producing Arab states?
(a) 1977.
(b) 1945.
(c) 1978.
(d) 1973.

7. Nancy Pelosi is the Minority Leader of ______________.
(a) The United States Supreme Court.
(b) The United States House of Representatives.
(c) The United States House of State.
(d) The United States Senate.

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

9. When was Scott Brown born?
(a) 1959.
(b) 1948.
(c) 1964.
(d) 1940.

10. Nancy Pelosi has represented the 8th Congressional District of what state?
(a) Arizona.
(b) Alaska.
(c) California.
(d) New York.

11. What is a requirement for a proposal to gain a specified level or type of support which exceeds a simple majority (over 50%)?
(a) Superpower.
(b) Great majority.
(c) Supermajority.
(d) Upper majority.

12. During the Yom Kippur War, Syria and Egypt attacked territories Israel had captured in what war?
(a) The Six-Day War.
(b) World War II.
(c) The Syrian War.
(d) The Seven-Day War.

13. What does OPEC stand for?
(a) The Organization of the Petroleum Exporting Countries.
(b) The Organization of Phonetic Electrical Companies.
(c) The Organization of Pacific Executive Countries.
(d) The Organization of Petroleum Energy Corporations.

14. What company did Robert Lukens run in Chapter 4: Blowout - The Commodities Bubble?
(a) Lukens Architecture Firm.
(b) Lukens Sanitation Company.
(c) Lukens Roofing.
(d) Lukens Construction Company.

15. When was Nancy Pelosi born?
(a) 1940.
(b) 1949.
(c) 1948.
(d) 1958.

Short Answer Questions

1. What occupation did Barack Obama have before earning his law degree?

2. The CFTC was created in what year?

3. When was Barack Obama inaugurated as President of the United States?

4. When was John McCain born?

5. According to the author in Chapter 4: Blowout - The Commodities Bubble, speculators took over the commodities market and by 2008, what percent of commodity exchanges was speculative?

(see the answer keys)

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