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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 importance does political ideology have on the nationalization of banks?
(a) Liberal ideologues have the great influence on bank legislation.
(b) Political lobbyists for banks have great influence on their nationalization.
(c) The Congressional chairman of the Banking Committee influences support for nationalization.
(d) The nationalization of banks is such a strong part of the overall economy that political ideology did not matter.

2. How was some property converted for home ownership during the 1980s?
(a) Less expensive condominiums that often times had been rental apartments became another way. Rent-to-buy deals popped into the market.
(b) Some storefront small business buildings were converted to property that was sold for private homes.
(c) In some towns, student housing was converted to property that was sold to homeowners.
(d) Trailer parks were developed as suburban subdivisions.

3. What U.S. president removed the gold standard from the US dollar?
(a) President Lincoln took the U.S. dollar off its gold backing so that dollars could not be redeemed for gold.
(b) President Kennedy took the U.S. dollar off its gold backing so that dollars could not be redeemed for gold.
(c) President Wilson took the U.S. dollar off its gold backing so that dollars could not be redeemed for gold.
(d) President Nixon took the U.S. dollar off its gold backing so that dollars could not be redeemed for gold.

4. What occurred when coinage was weakened through lower percentages of precious metal or completing stripped of such backing?
(a) Inflation and political turmoil occurred 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) 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.
(d) Deflation resulted when the coinage was debased through lower percentages of precious metal or none at all.

5. What type of person was Paul Moritz Warburg?
(a) Paul Moritz Warburg was a mild-mannered, shy and sensitive man.
(b) Paul Moritz Warburg was an elitist who was not concerned with the concerns of the poor.
(c) Paul Moritz Warburg was a stubborn man concerned only with the wealth of the upper class.
(d) Paul Moritz Warburg was a rude and greedy man.

Short Answer Questions

1. The nationalization of banks has occurred during conservative or liberal administrations?

2. What new way of home ownership emerged in the 1980s?

3. During the history of the world, what types of things were first traded?

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

5. What document did the author provide to support the idea of a conspiracy to destroy the U.S. economy?

(see the answer key)

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