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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 governments devalue currency in fiat money systems?
(a) This was accomplished by devaluing the currency through legislation.
(b) This was accomplished by devaluing the currency through regulation.
(c) This was accomplished by devaluing the currency through taxation..
(d) This was accomplished by devaluing the currency through use of the printing press.

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

3. 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.

4. What was really behind the Russian Bolshevik Revolution?
(a) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations of a handful of financiers.
(b) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations of foreign interests.
(c) The Russian Bolshevik Revolution was a revolution of and for the people.
(d) The Russian Bolshevik Revolution was not a revolution of and for the people, as history usually asserts, but the manipulations the Axis Powers.

5. The Bank of North America was disbanded after what event?
(a) At the end of the Revolutionary War, The Bank of North America was disbanded.
(b) At the end of the Civil 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.

Short Answer Questions

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

2. Early banks were supported by what monetary system?

3. What solid case did governments make for fiat monetary systems?

4. How did large banks react to the Federal Reserve Act?

5. What restrictions were placed on the Bank of Amsterdam which was established in 1609?

Short Essay Questions

1. In Chapter 11, what place in history does the Rothschild family hold?

2. According to Chapter 13, what was the goal of the secret society founded by Lord Alfred Milner?

3. According to Chapter 10, what is the basic structure of the US monetary system?

4. In Chapter 12, what were the sales of English and French war bonds used for?

5. According to Chapter 25, what did the author predict for the U.S. economy?

6. According to Chapter 19, what were the causes of the Civil War?

7. According to Chapter 11, what is the Rothschild Formula?

8. According to Chapter 20, what was the economic outlook in the U.S. following the Civil War?

9. According to Chapter 25, what two social classes does the author predict for the future?

10. According to Chapter 17, what dispute did President Andrew Jackson have with the leader of The Second Bank?

(see the answer keys)

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