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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 resulted from the 1970 Penn Central Railroad bailout?

2. What is a fractional money system?

3. What redistribution of wealth occurred as a result of the establishment of the IMF and the World Bank?

4. What events cause deflation?

5. What U.S. president removed the gold standard from the US dollar?

Short Essay Questions

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

2. In Chapter 8, how did the development of paper money begin?

3. According to Chapter 4, what caused the Savings & Loan crisis of the 1980s?

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

5. According to Chapter 1, where did the idea for the Federal Reserve System originate?

6. In Chapter 1, how is a "currency drain" defined?

7. According to Chapter 1, what were banks allowed to lend prior to the establishment of the Federal Reserve System?

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

9. In Chapter 3, what was the result of the 1970 Penn Central Railroad bailout?

10. In Chapter 2, how did the banks make their money?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What was the role of the Rothschild family in the history of warfare? What is the Rothschild Formula?

Essay Topic 2

Describe the sinking of the Lusitania. Who conspired to lure German U-Boats to sink it? What impact did the attack on the ship have? How many people died in the attack?

Essay Topic 3

Describe and discuss the Mandrake Mechanism and its effect on an economy. Why was the system made to be complex?

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