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This quiz consists of 5 multiple choice and 5 short answer questions through Section VI. Time Travel into the Future, Chapters 24-26 Doomsday Mechanisms; A Pessimistic Scenario; A Realistic Scenario.

Multiple Choice Questions

1. Conspiracy theorists connected the potential of world socialism to what organization?
(a) This conspiracy theory encompassed the entire world by connecting the United Nations with socialism.
(b) This conspiracy theory encompassed the entire world by connecting the IMF with socialism.
(c) This conspiracy theory encompassed the entire world by connecting the World Bank with socialism.
(d) This conspiracy theory encompassed the entire world by connecting the Federal Reserve with socialism.

2. What resulted when paper money was not backed with gold or silver?
(a) Money not backed by precious metal led to booming economies and political stability.
(b) Money not backed by precious metal led to deflation and political upheaval.
(c) Money not backed by precious metal led to higher deficits.
(d) Money not backed by precious metal led to inflation and political upheaval.

3. Why was housing becoming difficult to obtain in the 1980s?
(a) Wages were not keeping up with inflation, which made housing harder to obtain.
(b) Congressional actions began to place restrictive regulations on house buying.
(c) The cost of housing was sky-rocketing.
(d) The construction industry was experiencing labor conflicts.

4. What culture was the first to create a currency system based on gold and silver?
(a) Alexander the Great came up with the idea to make coins out of gold and silver.
(b) The British came up with the idea to make coins out of gold and silver.
(c) The ancient Romans came up with the idea to make coins out of gold and silver.
(d) The ancient Greeks came up with the idea to make coins out of gold and silver.

5. What caused the collapse of the Bank of Hamburg in 1813?
(a) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the Nazi Party rose to power.
(b) Formed in the early 1600s, the Bank of Hamburg stayed solvent until Napoleon captured it in 1813.
(c) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the stock market crash of 1929.
(d) Formed in the early 1600s, the Bank of Hamburg stayed solvent until World War I.

Short Answer Questions

1. What country was formed after the second Russian revolution?

2. When the entire banking system failed, what did the Federal government turn to to bolster the failed back up system?

3. Which European bank become the model for the Federal Reserve System?

4. What portion of the U.S. debt did a large portion of the tax dollar pay for?

5. How open to questioning were the original participants of the 1910 meeting?

(see the answer key)

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