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This quiz consists of 5 multiple choice and 5 short answer questions through Section II. A Crash Course on Money, Chapters 9-10 The Secret Science; The Mandrake Mechanism.

Multiple Choice Questions

1. Why was there skepticism about the author's analysis?
(a) Doubt existed because the author's entire analysis was an exercise in historical analysis from subsequent events, which is by nature flawed due to the guesswork involved.
(b) The author was found to be a lobbyist for conservative causes.
(c) The author refused to be questioned about his research.
(d) The author was not considered an expert on the subject.

2. How did the banks make their money?
(a) The banks made money on both interest ad principle payments.
(b) The banks made money on their cash flow.
(c) The banks made money on interest, not principle, payments.
(d) The banks made money on principle, not on interest payments.

3. During the history of the world, what types of things were first traded?
(a) During the history of money development, the first currency system was based on grain and livestock.
(b) During the history of money development, trade started out with a rudimentary currency system.
(c) During the history of money development, trade started out between neighboring communities.
(d) During the history of money development, trade started out with bartering commodities, cows traded for grain and so on.

4. How did unemployment impact the economic problems?
(a) High unemployment compounded this problem, forcing people into foreclosures and drying up the housing market.
(b) The Federal government was distracted from economic problems and focused their attention on the unemployed.
(c) High employment distracted people from looking for homes.
(d) High employment made more homes available for sale.

5. How did governments devalue currency in fiat money systems?
(a) This was accomplished by devaluing the currency through regulation.
(b) This was accomplished by devaluing the currency through use of the printing press.
(c) This was accomplished by devaluing the currency through legislation.
(d) This was accomplished by devaluing the currency through taxation..

Short Answer Questions

1. In what year was First Pennsylvania Bank bailed out?

2. What resulted from the Mandrake Mechanism?

3. What new way of home ownership emerged in the 1980s?

4. Since its inception in 1910, the Federal Reserve had made what decisions about bank bailouts?

5. Why did banks ask for interest-only payments?

(see the answer key)

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