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

Multiple Choice Questions

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

2. 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) Robert Lukens.
(b) Sam Serenda.
(c) Leroy Marcus.
(d) Priscilla Carillo.

3. Where did Scott Brown earn his law degree?
(a) Yale University School of Law.
(b) Boston College Law School.
(c) Harvard Law School.
(d) Columbia School of Law.

4. A new investment vehicle called index speculation was comprised of two main indices which were the Goldman-Sachs Commodity Index and ____________.
(a) The FICA Commodity Index.
(b) The Dow Jones-AIG Commodity Index.
(c) The Dow Jones-NASDAQ Commodity Index.
(d) The NASDAQ-AIG Commodity Index.

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

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

7. When did the Yom Kippur War end?
(a) November 3, 1973.
(b) October 25, 1973.
(c) October 15, 1972.
(d) September 14, 1975.

8. Nancy Pelosi served as the 60th Speaker of the United States House of Representatives from 2007 to ______.
(a) 2008.
(b) 2009.
(c) 2010.
(d) 2011.

9. What, according to the author, had been designed as a massive political deal with big giveaways to pharmaceutical companies in the form of subsidies and a big gift to the insurance industry in the form of the individual mandate?
(a) The Congressional Committee for Finance.
(b) The Congressional Committee for Health Reform.
(c) Capitalism.
(d) Obamacare.

10. Barack Obama taught constitutional law at what university?
(a) The University of Chicago Law School.
(b) Harvard Law School.
(c) Boston College Law School.
(d) Yale University Law School.

11. 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?
(a) 25.
(b) 70.
(c) 80.
(d) 50.

12. 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) 50 years.
(d) 25 years.

13. When was John McCain born?
(a) 1948.
(b) 1936.
(c) 1911.
(d) 1942.

14. For what state was Scott Brown elected Senator?
(a) Illinois.
(b) Massachusetts.
(c) Washington.
(d) Kansas.

15. When did the Yom Kippur War begin?
(a) October 15, 1972.
(b) November 3, 1973.
(c) October 6, 1973.
(d) September 14, 1975.

Short Answer Questions

1. Where was Scott Brown born?

2. Where was John McCain born?

3. What is a requirement for a proposal to gain a specified level or type of support which exceeds a simple majority (over 50%)?

4. When was Scott Brown born?

5. OPEC is an intergovernmental organization of how many developing countries?

(see the answer keys)

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