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 do some feel was the reason for establishing the Federal Reserve?
(a) The Federal Reserve System was concocted not to stabilize the economy but to put economic control into the hands of a few people who agreed not to compete with one another.
(b) The Federal Reserve System was concocted to stabilize the economy.
(c) The Federal Reserve System was concocted not to stabilize the economy and create an economy that was distributed equally among the population.
(d) The Federal Reserve System was concocted to put economic control into the hands of the people.

2. What was the main cause of the economic meltdown in 2008?
(a) The lack of Congressional legislation was the main cause for the 2008 economic meltdown.
(b) The US deficit was the main cause for the 2008 economic meltdown.
(c) Toxic assets, also known as mortgages and loans were the main cause for the 2008 economic meltdown.
(d) An unstable world economy was the main cause for the 2008 economic meltdown.

3. What generalization did the author make about conspiracy theorists?
(a) Those who believe in conspiracy theories usually are better educated than the average person.
(b) There were two kinds of people in the world--those who believed in conspiracy and those who did not.
(c) Those who believe in conspiracy theories are usually more well-informed than most people.
(d) Conspiracy theorists are generally more intelligent than the general population.

4. What occurred when coinage was weakened through lower percentages of precious metal or completing stripped of such backing?
(a) Paper money was seen to be the superior monetary system when the coinage was debased through lower percentages of precious metal or none at all.
(b) Stock market instability occurred when the coinage was debased through lower percentages of precious metal or none at all.
(c) Inflation and political turmoil occurred when the coinage was debased through lower percentages of precious metal or none at all.
(d) Deflation resulted when the coinage was debased through lower percentages of precious metal or none at all.

5. What organization ensures the nationalization of banks?
(a) As long as the Federal Reserve System existed, it would continue nationalizing banks and perhaps other industries as they fell into financial difficulties.
(b) As long as the International Monetary Fund existed, it would continue nationalizing banks and perhaps other industries as they fell into financial difficulties.
(c) As long as the Congressional Banking Committee existed, it would continue nationalizing banks and perhaps other industries as they fell into financial difficulties.
(d) As long as the FDIC existed, it would continue nationalizing banks and perhaps other industries as they fell into financial difficulties.