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

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

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

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

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

Short Answer Questions

1. According to the author, state taxes were at a five-year low when oil prices surged to how much a barrel?

2. Kissinger served as National Security Advisor and Secretary of State under which President?

3. Where was Barack Obama born?

4. To what political party does Scott Brown belong?

5. 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?

Short Essay Questions

1. What changed the regulation for trust funds and pension funds, as described in Chapter 4?

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

3. What was index speculation comprised of, as described in Chapter 4?

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

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

6. What scenarios does the author describe for Priscilla Carillo and Robert Lukas in Chapter 4?

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

8. How did the power structure of Congress change with Scott Brown's election in Chapter 6: The Trillion-dollar Band-Aid - Health Care Reform?

9. Who was responsible for purchasing Chicago's parking meters, as described in Chapter 5?

10. What argument did Goldman-Sachs present for lessening regulation, as discussed in Chapter 4?

(see the answer keys)

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