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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3: Hot Potato, The Great American Mortgage Scam.

Multiple Choice Questions

1. The fundamental belief of what philosophy is that self-interest is a normal human state and interventionism by the government is unnatural and evil?
(a) Subjectivism.
(b) Absurdism.
(c) Pluralism.
(d) Objectivism.

2. AIG was listed on the Dow Jones Industrial Average from _________ to September 22, 2008.
(a) August 5, 2003.
(b) April 8, 2004.
(c) March 12, 2008.
(d) September 19, 2005.

3. What refers to a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation?
(a) Subsidized market.
(b) Unsubsidized loans.
(c) Derivitaves market.
(d) Ponzi scheme.

4. Alan Greenspan served as Chairman of the Federal Reserve of the United States during what years?
(a) 1990-1999.
(b) 1987-2006.
(c) 1980-2000.
(d) 1985-2004.

5. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.
(a) 12.5%.
(b) 13.9%.
(c) 15.3%.
(d) 20.1%.

Short Answer Questions

1. What refers to the idea of a society in a repressive and controlled state, often under the guise of being Utopian?

2. Alan Greenspan joined the Richard Nixon campaign in what year?

3. What refers to a financial market where participants can issue new debt, known as the Primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds?

4. With what Tea Party member did Matt Taibbi travel around Nevada in Chapter 1?

5. When did Lehman Brothers declare bankruptcy?

(see the answer key)

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