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 open to questioning were the original participants of the 1910 meeting?
(a) Only some of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.
(b) None of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.
(c) The participants at the 1910 meeting would only agree to talk about the establishment of the Federal Reserve with the New York Times.
(d) Most of the participants at the 1910 meeting openly talked about the establishment of the Federal Reserve in interviews conducted years later.

2. What happens when the Federal Reserve System prints new money?
(a) When the Federal Reserve System creates new money, it dilutes the value of the money already in the system.
(b) When the Federal Reserve System creates new money, it improves the overall economy.
(c) When the Federal Reserve System creates new money, it causes the stock market to rally.
(d) When the Federal Reserve System creates new money, it increases the value of the money already in the system.

3. When did the American public become interested in socialism as an alternative to capitalism?
(a) After World War II, the American public became interested in socialism as an alternative to capitalism.
(b) During the Cold War, the American public became interested in socialism as an alternative to capitalism.
(c) After LBJ's Great Society was enacted, the American public became interested in socialism as an alternative to capitalism.
(d) During the Great Depression of the 1930s, the American public became interested in socialism as an alternative to capitalism.

4. What solid case did governments make for fiat monetary systems?
(a) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would raise the debt ceiling.
(b) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase taxes.
(c) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the money supply.
(d) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the budget deficit.

5. What caused the Savings & Loan crisis of the 1980s?
(a) The Savings and Loan or S&L crisis of the 1980s happened because the government tried to insure the deposits, but the funds to do this were not adequate.
(b) The Savings and Loan or S&L crisis of the 1980s happened because the government tried to insure the deposits, but the funds were not made available by Congress.
(c) The Savings and Loan or S&L crisis of the 1980s happened because the government tried to insure the deposits, but the funds were tied up in bank bailouts.
(d) The Savings and Loan or S&L crisis of the 1980s happened because the government tried to insure the deposits but the president vetoed the legislation that was necessary to carry out the plan.