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This quiz consists of 5 multiple choice and 5 short answer questions through Section III. The New Alchemy, Chapters 11-12 The Rothschild Formula; Sink the Lusitania!.

Multiple Choice Questions

1. When the entire banking system failed, what did the Federal government turn to to bolster the failed back up system?
(a) When the whole banking system collapsed, taxpayer money went into bolstering the failed system back up.
(b) When the whole banking system collapsed, foreign investments went into bolstering the failed system back up.
(c) When the whole banking system collapsed, the debt ceiling was raised to bolster the failed system back up.
(d) When the whole banking system collapsed, money from newly issued government bonds went into bolstering the failed system back up.

2. What was the relationship between the World Bank and the IMF?
(a) The IMF and World Bank were closely associated with the United Nations.
(b) The IMF and World Bank were a division of the United Nations.
(c) The IMF and World Bank were associated with but not tied directly to the United Nations.
(d) The IMF and World Bank were controlled by the United Nations.

3. What resulted after the first electronic run on banks in 1983?
(a) The first electronic run on banks happened in 1983, leading to a hoarding of cash.
(b) The first electronic run on banks happened in 1983, leading to a massive bailout in the $6 billion range.
(c) The first electronic run on banks happened in 1983, leading to a collapse of the economy.
(d) The first electronic run on banks happened in 1983, leading to one trillion dollars being added to the deficit.

4. Why did banks offer debtors more credit?
(a) Banks offered more credit to debtors to help them purchase homes.
(b) Banks offered more credit to debtors to increase interest payments to the them.
(c) Banks offered more credit to debtors to so they could increase their purchasing power.
(d) Banks offered more credit to debtors to help improve their credit rating.

5. What events cause deflation?
(a) Deflation occurs when prices suddenly increase.
(b) Deflation occurs when the government takes steps against inflationary signals.
(c) Deflation occurs when prices suddenly tumble.
(d) Deflation occurs when the stock market suddenly tumble.

Short Answer Questions

1. How were the policies of FDR's administration a departure from capitalism?

2. How did the New World Order develop?

3. What U.S. president removed the gold standard from the US dollar?

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

5. What is a fractional money system?

(see the answer key)

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