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. Who does the Federal Reserve depend on to bail out the country in times of economic collapse?
(a) The Federal Reserve turns to the foreign investors to bail out the country in times of economic collapse.
(b) The Federal Reserve turns to the banks to bail out the country in times of economic collapse.
(c) The Federal Reserve turns to the taxpayer to bail out the country in times of economic collapse.
(d) The Federal Reserve turns to Congress to bail out the country in times of economic collapse.

2. What was the main argument in favor of nationalizing banks?
(a) The fundamental argument in favor of the nationalization was that the system had to be purged of risk-taking bank executives.
(b) The fundamental argument in favor of the nationalization was that a weak economy would recover more quickly.
(c) The fundamental argument in favor of the nationalization was that such bailouts would be allowed only once.
(d) 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.

3. What was really behind the Russian Bolshevik Revolution?
(a) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations the Axis Powers.
(b) The Russian Bolshevik Revolution was a revolution of and for the people.
(c) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations of foreign interests.
(d) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations of a handful of financiers.

4. What occurred after the Second Bank of the United States was created?
(a) The Second Bank of the United States was created in 1816 and introduced the boom-bust cycle.
(b) The Second Bank of the United States was created in 1816 and caused inflationary conditions.
(c) The Second Bank of the United States was created in 1816 and caused a period of deflation.
(d) The Second Bank of the United States was created in 1816 and created a booming economy.

5. What important aspect about the economic history of the country did the author fail to mention?
(a) The author failed to mention that our economic system may have been fixed at one time and then broken again.
(b) The author failed to mention that our economic system depends on the success of the stock market.
(c) The author failed to mention that our economic system depends on foreign investments.
(d) The author failed to mention that our economic system is impossible to fix.