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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 occurred after the economic downturn in 1818?
(a) After the economic downturn in 1818, loans were difficult to obtain.
(b) After the economic downturn in 1818, layoffs and bankruptcies followed.
(c) After the economic downturn in 1818, revenues were bolstered by increased taxation.
(d) After the economic downturn in 1818, a period of deflation followed.

2. What deal did the U.S. make with England during World War I regarding the British ship Lusitania?
(a) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating in the North Atlantic near Ireland.
(b) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating off the coast of Italy.
(c) In a deal struck between England and the US, the British ship Lusitania was set up to be sunk by a U-boat operating in the Black Sea.
(d) In a deal struck between England and the US, the British ship Lusitania ambushed a U-boat operating in the North Atlantic near Ireland.

3. What role did J. P. Morgan have in Milner's secret society?
(a) J.P. Morgan financed the sides of political struggles that agreed with his conservative views.
(b) J.P. Morgan financed all sides of political struggles to boost his chances for elective office.
(c) 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.
(d) J.P. Morgan financed the sides of political struggles that agreed with his liberal views.

4. What is the Rothschild Formula?
(a) The Rothschild Formula means that money could be made from warfare when the winning side stands for social reform.
(b) The Rothschild Formula means that money could be made from warfare and from both sides of the conflicts.
(c) The Rothschild Formula means that money could be made from warfare when the US is on the winning side.
(d) The Rothschild Formula means that money could be made from warfare and from the winning side of the conflict.

5. What other organizations were spawned from Milner's secret society?
(a) Other parts of the secret society showed up as the Council on Foreign Relations and even the Red Cross.
(b) Other parts of the secret society showed up as the Noble Prize Commission.
(c) Other parts of the secret society showed up as the World Bank and Red Cross.
(d) Other parts of the secret society showed up as the International Money Fund.

Short Answer Questions

1. What caused the economic downturn in 1818?

2. What caused the collapse of the Bank of Hamburg in 1813?

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

4. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?

5. The sinking of the Lusitania provoked what country to enter into World War I?

Short Essay Questions

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

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

3. According to Chapter 12, what event sparked the conflicts that led to World War I?

4. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?

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

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

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

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

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

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

(see the answer keys)

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