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

Multiple Choice Questions

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

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

3. Since the United States does not have a single-payer health care system, there are over how many health agencies, all of which have different forms and standards?
(a) 1,000.
(b) 1,300.
(c) 1,500.
(d) 2,000.

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

5. Where was Scott Brown born?
(a) Kittery, Maine.
(b) Boston, Massachusetts.
(c) New York, New York.
(d) Chicago, Illinois.

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

7. What is an independent self-regulatory organization and watchdog of the commodities and futures industry in the United States?
(a) The Congressional Finance Commission.
(b) The Farm Futures Commission.
(c) The National Futures Association.
(d) The Wikileaks Watchdog Corporation.

8. When was the Uniform Prudent Investor Act enacted?
(a) 1985.
(b) 1915.
(c) 1994.
(d) 1947.

9. What candidate did Scott Brown face in the 2010 special election?
(a) James Alexander.
(b) Hillary Clinton.
(c) Martha Coakley.
(d) Sarah Paulson.

10. According to the author, state taxes were at a five-year low when oil prices surged to how much a barrel?
(a) $149.
(b) $140.
(c) $100.
(d) $200.

11. To what political party does Scott Brown belong?
(a) Independent.
(b) Democrat.
(c) Green.
(d) Republican.

12. What refers to politics or diplomacy based primarily on power and on practical and material factors and considerations, rather than ideological notions or moralistic or ethical premises?
(a) Capitalism.
(b) Objectivism.
(c) Realpolitik.
(d) Conservatism.

13. Goldman-Sachs argued that investing in commodities futures would reduce risk and yield __________.
(a) Equity-like returns.
(b) Derivatives.
(c) Speculative returns.
(d) T-bill returns.

14. When was Barack Obama born?
(a) 1967.
(b) 1948.
(c) 1961.
(d) 1975.

15. In international relations, what refers to a re-establishment of cordial relations, as between two countries?
(a) Reinactment.
(b) Encroachment.
(c) Breach of Contract.
(d) Rapprochement.

Short Answer Questions

1. In 1991, Goldman-Sachs bought up a commodities trading company called ________.

2. When was Nancy Pelosi born?

3. Scott Brown succeeded what United States Senator?

4. The Commodity Exchange Act was enacted in what year?

5. When did the Yom Kippur War begin?

(see the answer keys)

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