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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What did the U.S. government do to support banks?

2. How did the New World Order develop?

3. Who was the mastermind behind the Federal Reserve?

4. Why was platinum not used to back the monetary system?

5. How did many people feel about those who went too far into debt?

Short Essay Questions

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

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

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

4. In Chapter 7, what impact did the Greek currency system have on the economy?

5. According to Chapter 5, what US president abandoned the gold standard from the US dollar?

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

7. In Chapter 3, what is the first bailout that is covered in this book?

8. In Chapter 2, how did the author characterize the problems with the banking system?

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

10. According to Chapter 5, what country contributed the largest investment in the IMF?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

When did the U.S. debt begin to increase at a tremendous rate? By what standard was the U.S. debt measured from that time on? What did some people feel was behind the enormous debt that was facing America?

Essay Topic 2

When was the first central bank in the United States established? After what historic event was the bank disbanded? What were the views of Alexander Hamilton and Thomas Jefferson about the concept of a central bank? What type of banks developed as the new country expanded?

Essay Topic 3

Discuss the process of passing legislation to establish the Federal Reserve? What were the obstacles and drawbacks? When was the Federal Reserve Act finally passed? What type of language was used in writing the bill?

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