View a FREE sample

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

Multiple Choice Questions

1. When was the first central bank founded in the US?
(a) The first central bank was founded in the US before the Civil War.
(b) The first central bank was founded in the US before the Constitution was drafted.
(c) The first central bank was founded in the US before the Spanish-American War.
(d) The first central bank was founded in the US after the Constitution was drafted.

2. What event sparked the conflicts that led to World War I?
(a) World War I started in 1914 with a global economic collapse.
(b) World War I started in 1914 with the intercession of the US into European affairs.
(c) World War I started in 1914 with the assassination of the Kaiser Wilhelm II of Germany.
(d) World War I started in 1914 with the assassination of the Archduke of Austria-Hungary, Francis Ferdinand.

3. 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 lack of oversight by the US Congress.
(c) The boom-bust cycle was due to the widespread use of paper currency not based by the gold standard.
(d) The boom-bust cycle was due to the establishment of the Federal Reserve.

4. What document did the author provide to support the idea of a conspiracy to destroy the U.S. economy?
(a) The author used a confidential report found in Congressional archives to support the idea of conspiracy to destroy the US economy.
(b) The author used a document obtained by the CIA to support the idea of conspiracy to destroy the US economy.
(c) The author used a document named the Report from Iron Mountain to support the idea of conspiracy to destroy the US economy.
(d) The author used the minutes of secret Jekyll Island meeting to support the idea of conspiracy to destroy the US economy.

5. 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 did not favor the gold standard.
(b) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too power over state banks.
(c) President Andrew Jackson battled against the leader of The Second Bank, Nicholas Biddle, because Biddle had too much influence with Congress.
(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.

6. 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.

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

8. What solid case did governments make for fiat monetary systems?
(a) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the budget deficit.
(b) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would raise the debt ceiling.
(c) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase the money supply.
(d) As long as governments wanted ever more money for projects such as wars, building infrastructure and social programs, the governments would increase taxes.

9. The Bank of North America was disbanded after what event?
(a) At the end of the Civil War, The Bank of North America was disbanded.
(b) At the end of the Revolutionary War, The Bank of North America was disbanded.
(c) At the end of the Spanish American War, The Bank of North America was disbanded.
(d) At the end of World War I, The Bank of North America was disbanded.

10. 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 deflated through the Federal Reserve System.
(b) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the US Congress.
(c) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the Federal Reserve System.
(d) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through an activist Supreme Court.

11. What two social classes does the author predict for the future?
(a) Only two classes of people would exist--the middle class and the poor.
(b) Only two classes of people would exist--the rich and the poor.
(c) Only two classes of people would exist--the ruling class and those ruled by it.
(d) Only two classes of people would exist--the rich and the middle class.

12. How many revolutions did Russia actually undergo?
(a) Russia went through three revolutions.
(b) Russia went through two revolutions.
(c) Russia went through seven revolutions.
(d) Russia went through five revolutions.

13. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.
(b) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.
(c) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(d) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.

14. What was the name of the central bank established in 1791?
(a) The Bank of the United States was chartered in 1791.
(b) The Bank of New England was chartered in 1791.
(c) The Bank of the Philadelphia was chartered in 1791.
(d) The Bank of America was chartered in 1791.

15. What financing was behind the second Russian revolution?
(a) The second Russian revolution was financed by the Communist bloc.
(b) The second Russian revolution was financed by European countries and the US.
(c) The second Russian revolution was financed by Asian countries and the US.
(d) The second Russian revolution was financed by England and France.

Short Answer Questions

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

2. What resulted from the Mandrake Mechanism?

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

4. What was the real cause of the Great Depression of the 1930s?

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

(see the answer keys)

This section contains 1,470 words (approx. 5 pages at 300 words per page) View a FREE sample