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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. How did the New World Order develop?
(a) The New World Order was an outgrowth of the international events that led up to the fall of Communism, specifically the dissolution of the USSR.
(b) The New World Order was an outgrowth of the international events that led up to the fall of Nazism, specifically the defeat of Nazi Germany.
(c) The New World Order was an outgrowth of the international events that led up to the Great Depression of 1929.
(d) The New World Order was an outgrowth of the international events that led to the defeat of the Axis powers in World War II.

2. When the entire banking system failed, what did the Federal government turn to to bolster the failed back up system?
(a) When the whole banking system collapsed, the debt ceiling was raised to bolster the failed system back up.
(b) When the whole banking system collapsed, taxpayer money went into bolstering the failed system back up.
(c) When the whole banking system collapsed, money from newly issued government bonds went into bolstering the failed system back up.
(d) When the whole banking system collapsed, foreign investments went into bolstering the failed system back up.

3. What redistribution of wealth occurred as a result of the establishment of the IMF and the World Bank?
(a) It was an effective means of redistributing wealth from rich to poor nations.
(b) It was an effective means of redistributing wealth to the rich to the middle class.
(c) It was an effective means of redistributing wealth to the rich nations.
(d) It was an effective means of redistributing wealth from the middle class to the rich.

4. Who does the Federal Reserve depend on to bail out the country in times of economic collapse?
(a) The Federal Reserve turns to the taxpayer to bail out the country in times of economic collapse.
(b) The Federal Reserve turns to Congress to bail out the country in times of economic collapse.
(c) The Federal Reserve turns to the foreign investors to bail out the country in times of economic collapse.
(d) The Federal Reserve turns to the banks to bail out the country in times of economic collapse.

5. After analysis, what was the real nature of the S&L system?
(a) The S&L system turned out to actually be a scam.
(b) The S&L system turned out to actually be operated by international interests.
(c) The S&L system turned out to actually be criminal.
(d) The S&L system turned out to actually be a cartel within a cartel.

Short Answer Questions

1. How were the policies of FDR's administration a departure from capitalism?

2. What happens when the Federal Reserve System prints new money?

3. What does the FDIC stand for?

4. What is the status of a loan that is "underwater?"

5. How do conspiracy theorists strengthen their stands?

Short Essay Questions

1. According to Chapter 5, what resulted from the removal of the gold standard?

2. According to Chapter 1, what did over-lending by banks result in?

3. In Chapter 4, what factdors may have contributed to the problems of the S&Ls in the 1980s?

4. In Chapter 6, why did all nations, in the author's opinion, become socialistic in the New World Order?

5. In Chapter 1, how is a "public run" defined?

6. According to Chapter 3, how did the government help the Lockheed Corporation?

7. In Chapter 4, how was the employment picture beginning to change?

8. According to Chapter 7, how did modern monetary systems originate historically?

9. According to Chapter 7, what culture was the first to create a currency system based on gold and silver?

10. In Chapter 3, what occurred when Congress stepped in during the S&L crisis?

(see the answer keys)

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