View a FREE sample

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. How did the Federal Reserve System accomplish the nationalization of banks?
(a) The politics of the Federal Reserve System became new and inventive ways to justify the nationalization of banks through the use of short-term loans.
(b) The politics of the Federal Reserve System became new and inventive ways to justify the nationalization of banks through the use of bailouts.
(c) The politics of the Federal Reserve System became new and inventive ways to justify the nationalization of banks through the use of risky loans.
(d) The politics of the Federal Reserve System became new and inventive ways to justify the nationalization of banks through the use of new legislation.

2. What does the FDIC stand for?
(a) The FDIC stands for The Federal Deposit Insurance Corporation.
(b) The FDIC stands for The Federal Debt Issuers Company.
(c) The FDIC stands for The First Debt Institute of Connneticut.
(d) The FDIC stands for The First Depositor's Insurance Corporation.

3. What impacted housing prices in the Midwest states?
(a) Housing prices declined because of poor construction standards in the area.
(b) House prices declined because homeowners due to the region's lack of good school systems.
(c) The depression in the rust belt that included northern Midwestern states such as Michigan, Ohio and Pennsylvania reduced the number of potential home buyers which in turn depressed housing prices in those areas.
(d) The Rust Belt area of the country was not considered a desirable place in which to live.

4. What major banks failed in 1972?
(a) First Bank of California and Wells Fargo Bank failed in 1972.
(b) In 1972, First Bank of Michigan and New York Bank both failed.
(c) Unity Bank fell in 1972, as did the Commonwealth Bank of Detroit.
(d) In 1972, Bank of America and Citibank failed.

5. What monetary system did the Constitution of the newly formed United States require?
(a) When the United States was formed, the Constitution required gold-backed money.
(b) When the United States was formed, the Constitution required a fractional money system.
(c) When the United States was formed, the Constitution required a paper currency system.
(d) When the United States was formed, the Constitution required that all precious metal be in the control of the government.

Short Answer Questions

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

2. How was the nationalization of banks justified?

3. What events cause deflation?

4. What city became a major part of the welfare state in 1975?

5. During which president's administration were policies that were a hybrid of socialism and capitalism developed?

(see the answer key)

This section contains 624 words (approx. 3 pages at 300 words per page) View a FREE sample