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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. What would result if the money system returned to the gold standard?
(a) A return to the gold standard would require a period of financial pain and many fortunes would evaporate.
(b) A return to the gold standard would set off a boom-bust cycle.
(c) A return to the gold standard would result in instability and deflationary times.
(d) A return to the gold standard would result in instability and inflationary times.

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

3. What was the goal of the secret society founded by Lord Alfred Milner?
(a) A secret society, founded by Lord Alfred Milner, had as its goal the dominance of the world through money controls.
(b) A secret society, founded by Lord Alfred Milner, had as its goal the eradication of disease and hunger.
(c) A secret society, founded by Lord Alfred Milner, had global peace as its main goal.
(d) A secret society, founded by Lord Alfred Milner, had as its goal the democratization of the entire world.

4. Why was the language of the Federal Reserve Act kept intentionally vague?
(a) The language in the bill was made intentionally vague and open to future interpretations.
(b) The language in the bill was made intentionally vague so that the US could remain the world's strongest economy.
(c) The language in the bill was made intentionally vague to protect national security.
(d) The language in the bill was made intentionally vague so that the general public would be kept in the dark about its powers.

5. What was the economic outlook in the U.S. following the Civil War?
(a) During the years following the Civil War, the U.S. economy went through a recession.
(b) During the years following the Civil War, the U.S. economy experienced a period of deflation.
(c) During the years following the Civil War, the U.S. economy experienced inflationary times.
(d) During the years following the Civil War, the U.S. economy went through extremes of the boom-bust cycle.

Short Answer Questions

1. What was the name of the central bank established in 1791?

2. How did England and France, at least in part, finance their wars?

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

4. What resulted from the Mandrake Mechanism?

5. The Rothschilds financed the conflict in which what historic leader was defeated by England?

Short Essay Questions

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

2. According to Chapter 13, what was really behind the Russian Bolshevik Revolution?

3. According to Chapter 18, what impact did stable banking practices have?

4. In Chapter 23, what was the real cause of the Great Depression of the 1930s?

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

6. According to Chapter 22, when was the Federal Reserve Act passed?

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

8. In Chapter 10, what resulted from the Mandrake Mechanism?

9. According to Chapter 9, what culture first developed the the modern equivalent of the banking industry?

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

(see the answer keys)

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