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

2. What was the role of the British Ship Lusitania in World War I?
(a) The Lusitania was being used to transport munitions from the US to England under the guise of a passenger liner that also hauled goods.
(b) The Lusitania was being used to transport soldiers from the US to England under the guise of a passenger liner that also hauled goods.
(c) The Lusitania was being used to transport munitions from the US to England under the guise of being a cargo ship.
(d) The Lusitania was being used to transport tanks from the US to England under the guise of a passenger liner that also hauled goods.

3. What place in history does the Rothschild family hold?
(a) Mayer Amschel Rothschild and his five sons financed European wars occurring in the twentieth century.
(b) Mayer Amschel Rothschild and his five sons financed European wars occurring after World War II through the Cold War years.
(c) Mayer Amschel Rothschild and his five sons financed worldwide wars from the middle of the eighteenth century into the nineteenth.
(d) Mayer Amschel Rothschild and his five sons financed European wars from the middle of the eighteenth century into the nineteenth.

4. Why was the use of fiat money disallowed in the United States?
(a) The reason the framers of the Constitution elected to eliminate fiat money was because rampant deflation had recently occurred, and the pain of that was still fresh in the framers' minds.
(b) The reason the framers of the Constitution elected to eliminate fiat money was because a severe economic downturn had recently occurred, and the pain of that was still fresh in the framers' minds.
(c) The reason the framers of the Constitution elected to eliminate fiat money was because a bank run had recently occurred, and the pain of that was still fresh in the framers' minds.
(d) The reason the framers of the Constitution elected to eliminate fiat money was because rampant inflation had recently occurred, and the pain of that was still fresh in the framers' minds.

5. What did the USSR implement instead of true Communism?
(a) The USSR never implemented true Communism but became a money-making machine for the secret money society that had turned into several branches called Round Tables.
(b) The USSR never implemented true Communism but became a money-making machine for the Axis powers.
(c) The USSR never implemented true Communism but became a money-making machine for those trying to establish a quasi-capitalist system of government.
(d) The USSR never implemented true Communism but became a money-making machine for the secret money society that was controlled by the United Nations.

Short Answer Questions

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

2. What debt would be incurred by future generations from currency devaluation?

3. What does the author predict for the U.S. economy?

4. What drove prices upward during the War of 1812?

5. What was the goal of the secret society founded by Lord Alfred Milner?

Short Essay Questions

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

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

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

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

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

6. In Chapter 9, what restrictions were placed on the Bank of Amsterdam which was established in 1609?

7. According to Chapter 15, why was the use of fiat money disallowed in the United States?

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

9. According to Chapter 21, what system was in control of the economy before the Federal Reserve System was established?

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

(see the answer keys)

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