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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. What resulted from the Mandrake Mechanism?
(a) The results of this system included social planning and hidden taxation and currency devaluation.
(b) The results of this system included social planning and tax relief.
(c) The results of this system included social planning and hidden taxation by means of deflation.
(d) The results of this system included social planning and hidden taxation by means of inflation.

2. What restricted the the states from using fiat money?
(a) The International Monetary Fund specifically restricted the use of fiat money by the states.
(b) The Federal Reserve specifically restricted the use of fiat money by the states.
(c) The Constitution specifically restricted the use of fiat money by the states.
(d) The US Congress specifically restricted the use of fiat money by the states.

3. This conspiracy theory about the Federal Reserve pointed the finger at the meeting on Jekyll Island that occurred in 1910.
(a) The conspiracy theory surrounding the Federal Reserve was thought to have originated during the Great Depression.
(b) The conspiracy theory surrounding the Federal Reserve was thought to be hatched at the 1910 Jekyll Island meeting.
(c) The conspiracy theory surrounding the Federal Reserve was thought to have originated during FDR's administration.
(d) The conspiracy theory surrounding the Federal Reserve was thought to have originated at the 1904 World's Fair.

4. Since its inception in 1910, the Federal Reserve had made what decisions about bank bailouts?
(a) Since its inception in 1910, the Federal Reserve had decided that large banks would get bailouts, medium-sized banks would get some bailouts, and small banks would be left to fail or be acquired by larger banks.
(b) Since its inception in 1910, the Federal Reserve had decided that large banks would get bailouts only if they could prove they had complied with all regulations.
(c) Since its inception in 1910, the Federal Reserve had decided that large banks would be the only banks to get bailouts.
(d) Since its inception in 1910, the Federal Reserve had decided that medium-sized banks would get the majority of bailouts.

5. In what year was First Pennsylvania Bank bailed out?
(a) First Pennsylvania Bank was bailed out in 1972.
(b) First Pennsylvania Bank was bailed out in 1975.
(c) First Pennsylvania Bank was bailed out in 1980.
(d) First Pennsylvania Bank was bailed out in 1973.

Short Answer Questions

1. After the 1950s, what was the standard of measure used to estimate the US debt?

2. How did Nicholas Biddle, leader of The Second Bank, respond to President Andrew Jackson's opposition to him?

3. What do many people feel was the real reason behind the establishment of the Federal Reserve?

4. What do some radical conspiracy theorists believe about the 9/11 attacks?

5. What is the true function of the FDIC?

(see the answer key)

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