This quiz consists of 5 multiple choice and 5 short answer questions through Section IV. A Tale of Three Banks, Chapters 16-19 The Creature Comes to America; A Den of Vipers; Loaves and Fishes, and Civil War; Greenbacks and Other Crimes.

Multiple Choice Questions

1. 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 1972.
(d) First Pennsylvania Bank was bailed out in 1980.

2. The sinking of the Lusitania provoked what country to enter into World War I?
(a) The sinking of the Lusitania and the death of its passengers, many of whom were German citizens, brought the Germany into the war.
(b) The sinking of the Lusitania and the death of its passengers, many of whom were French citizens, brought the France into the war.
(c) The sinking of the Lusitania and the death of its passengers, many of whom were US citizens, brought the US into the war.
(d) The sinking of the Lusitania and the death of its passengers, many of whom were British citizens, brought the England into the war.

3. What resulted when paper money was not backed with gold or silver?
(a) Money not backed by precious metal led to booming economies and political stability.
(b) Money not backed by precious metal led to higher deficits.
(c) Money not backed by precious metal led to inflation and political upheaval.
(d) Money not backed by precious metal led to deflation and political upheaval.

4. What debt would be incurred by future generations from currency devaluation?
(a) National debts were paid right away from the currency devaluation and only deficits would be inherited by future generations.
(b) National debts were paid right away from the currency devaluation and only national growth expenses would be inherited by future generations.
(c) National debts were paid right away from the currency devaluation and only interest payments would be inherited by future generations.
(d) National debts were paid right away from the currency devaluation and only debts to foreign investors would be inherited by future generations.

5. What caused the collapse of the Bank of Hamburg in 1813?
(a) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the Nazi Party rose to power.
(b) Formed in the early 1600s, the Bank of Hamburg stayed solvent until Napoleon captured it in 1813.
(c) Formed in the early 1600s, the Bank of Hamburg stayed solvent until World War I.
(d) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the stock market crash of 1929.