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. What impacted housing prices in the Midwest states?
(a) House prices declined because homeowners due to the region's lack of good school systems.
(b) The Rust Belt area of the country was not considered a desirable place in which to live.
(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) Housing prices declined because of poor construction standards in the area.

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

3. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.
(b) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(c) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.
(d) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.

4. Why did all nations become socialistic in the New World Order?
(a) In the New World Order, all nations became socialistic through deficit loan practices.
(b) In the New World Order, all nations became socialistic through United Nations declaration.
(c) In the New World Order, all nations became socialistic through the use of the IMF and direct loans from the industrialized nations to the undeveloped nations.
(d) In the New World Order, all nations became socialistic as a result of the abandonment of the gold standard.

5. What was the main argument in favor of nationalizing banks?
(a) The fundamental argument in favor of the nationalization was that such bailouts would be allowed only once.
(b) The fundamental argument in favor of the nationalization was that the system had to be purged of risk-taking bank executives.
(c) The fundamental argument in favor of the nationalization was that the system was so broken that it simply could not be regulated enough to work without eventually nationalizing all banking and industry.
(d) The fundamental argument in favor of the nationalization was that a weak economy would recover more quickly.