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

2. What has caused the economy's boom-bust cycle?
(a) The Federal Reserve's advertised purpose was to stabilize the economy, but depressions and recessions have resulted instead in a boom-bust cycle.
(b) The economy's boom-bust cycle is caused from trade deficits.
(c) The economy's boom-bust cycle is caused from people hoarding cash.
(d) The economy's boom-bust cycle is caused by the instability of the International Monetary Fund.

3. What is the true function of the FDIC?
(a) The FDIC is another way to pay off the debt of the taxpayer.
(b) The FDIC is another way to pay off banking mistakes through the taxpayer.
(c) The FDIC is another way to demonstrate the strength of the economy.
(d) The FDIC is another way to support the people who use banks.

4. Why has bank fraud never been eliminated?
(a) The Federal Reserve was controlled by outside political interests that fostered fraud.
(b) The Federal Reserve was influenced by lobbyists who advocated fraudulent regulations.
(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.

5. What major banks failed in 1972?
(a) In 1972, First Bank of Michigan and New York Bank both failed.
(b) Unity Bank fell in 1972, as did the Commonwealth Bank of Detroit.
(c) In 1972, Bank of America and Citibank failed.
(d) First Bank of California and Wells Fargo Bank failed in 1972.