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This quiz consists of 5 multiple choice and 5 short answer questions through Section I. What Creature Is This? Chapter 4 Home Sweet Loan.

Multiple Choice Questions

1. What is the main transport of both Amtrak and Conrail?
(a) Amtrak operates as a commuter train while Conrail operates as a long-distance carrier.
(b) Amtrak had been the passenger side of Penn Central, while Conrail had been the freight side.
(c) Amtrak had been the freight side of Penn Central, while Conrail had been the passenger side.
(d) Amtrak is the main carrier for government cargo and Conrail is available to the general public.

2. How did the government provide economic support to Lockheed Corporation in 1970?
(a) In 1970, the US government agreed to pay Lockheed Corporation twenty-percent over their selling prices.
(b) In 1970, Lockheed Corporation had troubles and became a prime government contractor, another way of nationalizing private industry.
(c) In 1970, Lockheed Corporation was made a unit of the Defense Department.
(d) In 1970, Lockheed Corporation was forgiven of all defense-related debt.

3. The nationalization of banks has occurred during conservative or liberal administrations?
(a) The nationalization of banks occurred during conservative as well as liberal administrations.
(b) The nationalization of banks occurred during conservative administrations.
(c) The nationalization of banks occurred when there is equal balance among all branches of government.
(d) The nationalization of banks occurred during liberal administrations.

4. In what year was First Pennsylvania Bank bailed out?
(a) First Pennsylvania Bank was bailed out in 1973.
(b) First Pennsylvania Bank was bailed out in 1975.
(c) First Pennsylvania Bank was bailed out in 1980.
(d) First Pennsylvania Bank was bailed out in 1972.

5. Why has bank fraud never been eliminated?
(a) The Federal Reserve was influenced by lobbyists who advocated fraudulent regulations.
(b) The Federal Reserve was controlled by outside political interests that fostered fraud.
(c) The Federal Reserve tried to institute European standards which led to the perpetuation of fraud.
(d) Financial experts were taught that the way banking worked in the US was the only way it could work, and so the fraud kept on going.

Short Answer Questions

1. What impacted housing prices in the Midwest states?

2. What risky loan activities have banks participated in?

3. What was the main argument in favor of nationalizing banks?

4. How did poor regulation contribute to the Savings and Loan crisis of the 1980s?

5. How did many people feel about those who went too far into debt?

(see the answer key)

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