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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Where was John McCain born?
(a) Coco Solo.
(b) Honolulu, HI.
(c) Akron, OH.
(d) Little Rock, AR.

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

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

4. What refers to the partial or complete prohibition of commerce and trade with a particular country, in order to isolate it?
(a) Emigration.
(b) Embargo.
(c) Contextualism.
(d) Observationalism.

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

Short Answer Questions

1. A new investment vehicle called index speculation was comprised of two main indices which were the Goldman-Sachs Commodity Index and ____________.

2. Where was Henry Kissinger born?

3. When was the Uniform Prudent Investor Act enacted?

4. 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?

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

Short Essay Questions

1. What did the news media and politicians attempt to blame the surge in oil prices on in Chapter 4?

2. How does Taibbi describe the design of Obamacare?

3. What correlation is there between bankruptcies in the United States and the current health care system, as described in Chapter 6?

4. How does Taibbi conclude Chapter 4? What does the author remark regarding the motivations of the wealthy?

5. What does Taibbi assert as an ominous element of health care legislation?

6. What administration was responsible for easing regulations on the stock market in Chapter 4?

7. How are SFWs defined in Chapter 5: The Outsourced Highway - Wealth Funds?

8. What led up to OPEC's oil embargo in the 1970s, as described in Chapter 5?

9. What is the commodities market and how has it affected American finance?

10. Where is most of the money in the American health care system tied up?

(see the answer keys)

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