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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. The three sections of the Pennsylvania turnpike system total how many miles?

2. Where did Scott Brown earn his law degree?

3. According to the author, the correlation between decreasing taxes and rising prices from ________ should not go unnoticed.

4. When was Scott Brown born?

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?

Short Essay Questions

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

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

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

4. When did Richard Daley lease Chicago's parking meters? For how much money were they leased, as described in Chapter 5?

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

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

7. How did the SWFs present a danger to the economy, as discussed in Chapter 5: The Outsourced Highway - Wealth Funds? When was Congress warned about the issue?

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the role of the Federal Reserve in American finance and the approach that Alan Greenspan had in controlling the American economy. What are the different ways in which the Fed can monitor the economy?

Essay Topic 2

Discuss the changes in speculative trading during the George W. Bush administration. What did these changes mean for Goldman-Sachs?

Essay Topic 3

Discuss the role of the news media in politics today. How has the media changed in the past 50 years and what have been the impacts of those changes?

(see the answer keys)

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