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This test consists of 15 multiple choice questions and 5 short answer questions.

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 inflation.
(d) The results of this system included social planning and hidden taxation by means of deflation.

2. The Rothschild family held sway over most political leaders with the exception of what historic figure?
(a) The Rothschild family held no political influence over Vladimir Lenin.
(b) The Rothschild family held no political influence over Adolph Hitler.
(c) The Rothschild family held no political influence over Napoleon.
(d) The Rothschild family held no political influence over Kaiser Wilhelm II.

3. What dispute did President Andrew Jackson have with the leader of The Second Bank?
(a) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too much influence with Congress.
(b) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle did not favor the gold standard.
(c) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too power over state banks.
(d) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too much sway over the government and the economy.

4. Early banks were supported by what monetary system?
(a) Sometimes the banks were on a gold system, but most often they went to a fiat money system.
(b) Sometimes the banks were on a gold system, but most were backed by other commodities.
(c) Sometimes the banks were on a gold system, but most often they went to a silver-backed money system.
(d) Sometimes the banks were on a gold system, but most often they were backed by their governments.

5. When did governmental typically find it necessary to print more paper money?
(a) Governments simply printed more money when needed, usually during political unrest.
(b) Governments simply printed more money when needed, usually during times of war.
(c) Governments simply printed more money when needed, usually during economic downturns.
(d) Governments simply printed more money when needed, usually during legislative battles.

6. What action was taken to keep England from sliding into depression?
(a) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the Federal Reserve System.
(b) To keep Britain from sliding into depression, the U.S. dollar was intentionally deflated through the Federal Reserve System.
(c) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the US Congress.
(d) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through an activist Supreme Court.

7. What disagreement did Alexander Hamilton and Thomas Jefferson have about a central bank?
(a) Thomas Jefferson favored a central bank and Alexander Hamilton was against it.
(b) Alexander Hamilton favored a powerful central bank and Thomas Jefferson was for limited powers.
(c) Alexander Hamilton favored a central bank and Thomas Jefferson was against it.
(d) Alexander Hamilton wanted a limited central bank and Thomas Jefferson wanted its authority to be more far-reaching.

8. What caused the boom-bust cycle in the U.S. economy following the Civil War?
(a) The boom-bust cycle was due to the widespread use of fiat money and the implementation of many economic tricks that were doomed to failure.
(b) The boom-bust cycle was due to the establishment of the Federal Reserve.
(c) The boom-bust cycle was due to the lack of oversight by the US Congress.
(d) The boom-bust cycle was due to the widespread use of paper currency not based by the gold standard.

9. What were the results of the Russian revolutions?
(a) The first revolution brought in a somewhat democratic government, while the second brought in a a somewhat democratic government.
(b) The first revolution brought in a a somewhat democratic government, while the second brought in a a somewhat democratic government.
(c) The first revolution brought in a monarchy, while the second brought in a tyrannical government.
(d) The first revolution brought in a somewhat democratic government, while the second brought in an oligarchy.

10. How were German U-boats successful in World War I?
(a) U-boats and these were highly successful at disrupting the progression of forces from England.
(b) U-boats and these were highly successful at disrupting the flow of war materials to France.
(c) U-boats and these were highly successful at disrupting the flow of war materials to England.
(d) U-boats and these were highly successful at disrupting the flow of war materials from America.

11. What did the author predict would become the world government?
(a) China would become the world government.
(b) The US would become the world government.
(c) The UN was the organization that would become the world government.
(d) Europe would become the world government.

12. What debt would be incurred by future generations from currency devaluation?
(a) National debts were paid right away from the currency devaluation and only interest payments would be inherited by future generations.
(b) National debts were paid right away from the currency devaluation and only deficits would be inherited by future generations.
(c) National debts were paid right away from the currency devaluation and only debts to foreign investors would be inherited by future generations.
(d) National debts were paid right away from the currency devaluation and only national growth expenses would be inherited by future generations.

13. Which European bank become the model for the Federal Reserve System?
(a) The Bank of England became the model for the Federal Reserve System.
(b) The Bank of Madrid became the model for the Federal Reserve System.
(c) First Banc of France became the model for the Federal Reserve System
(d) Bank One of Rome became the model for the Federal Reserve System.

14. When was the Federal Reserve Act passed?
(a) The Federal Reserve Act passed by large majorities in Congress just before World War II commenced.
(b) The Federal Reserve Act passed by large majorities in Congress just after World War I ended.
(c) The Federal Reserve Act passed by large majorities in Congress just before the stock market crash of 1929.
(d) The Federal Reserve Act passed by large majorities in Congress just before Christmas, 1913.

15. What role did J. P. Morgan have in Milner's secret society?
(a) J.P. Morgan financed all sides of political struggles to boost his chances for elective office.
(b) J.P. Morgan financed the sides of political struggles that agreed with his liberal views.
(c) J.P. Morgan financed the sides of political struggles that agreed with his conservative views.
(d) J.P. Morgan financed all sides of political struggles so that no matter who won, that side would be beholding to him and his organizations.

Short Answer Questions

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

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

3. What was the role of the British Ship Lusitania in World War I?

4. What other organizations were spawned from Milner's secret society?

5. What bank was The Bank of North America modeled after?

(see the answer keys)

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