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. Why was the "Federal Reserve System," so named?
(a) The "Federal Reserve System" was so named so that people would know that it was part of the Federal government.
(b) The "Federal Reserve System" was so named so that people would have respect for it.
(c) The "Federal Reserve System" was so named so that people would think it was part of the Federal government.
(d) The "Federal Reserve System" was so named because its offices were not state run.

2. What did the author feel was the ultimate goal in establishing the IMF and the World Bank?
(a) The ultimate goal was to establish the US dollar as the single world currency.
(b) The ultimate goal was to put the United Nations in control of world currency.
(c) The ultimate goal was to establish the Euro as the single world currency.
(d) The ultimate goal was to bring about a single world government that had control of all currencies.

3. What deal did the U.S. make with England during World War I regarding the British ship Lusitania?
(a) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating off the coast of Italy.
(b) In a deal struck between England and the US, the British ship Lusitania ambushed a U-boat operating in the North Atlantic near Ireland.
(c) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating in the North Atlantic near Ireland.
(d) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating in the Black Sea.

4. The nationalization of banks has occurred during conservative or liberal administrations?
(a) The nationalization of banks occurred during conservative administrations.
(b) The nationalization of banks occurred during conservative as well as liberal administrations.
(c) The nationalization of banks occurred during liberal administrations.
(d) The nationalization of banks occurred when there is equal balance among all branches of government.

5. What action was taken by the Federal Reserve during the 1980s S&L crisis?
(a) The Federal Reserve System usurped the powers of Congress and forgave the S&Ls their debts.
(b) The Federal Reserve System usurped the powers of Congress and started handing out money directly to the S&Ls as well.
(c) The Federal Reserve System usurped the powers of Congress and began crafting legislation to bail out the S&Ls.
(d) The Federal Reserve System usurped the powers of Congress and declared that the S&Ls had the same rights as banks.