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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. In December 2008, Chicago Mayor Richard Daley announced that he had leased out the city's parking meters for how long?
(a) 75 years.
(b) 25 years.
(c) 50 years.
(d) 30 years.

2. Where was Scott Brown born?
(a) Kittery, Maine.
(b) New York, New York.
(c) Chicago, Illinois.
(d) Boston, Massachusetts.

3. Nancy Pelosi is the Minority Leader of ______________.
(a) The United States House of Representatives.
(b) The United States House of State.
(c) The United States Supreme Court.
(d) The United States Senate.

4. What refers to the partial or complete prohibition of commerce and trade with a particular country, in order to isolate it?
(a) Embargo.
(b) Observationalism.
(c) Emigration.
(d) Contextualism.

5. What does the CFTC stand for?
(a) The Commodity Futures Trading Commission.
(b) The Capitalist Futures Commission.
(c) The Congressional Finance Trust Commission.
(d) The Community Finance Trading Commission.

6. In what year did President Nixon decide to rearm the Israelis, angering the oil-producing Arab states?
(a) 1945.
(b) 1977.
(c) 1973.
(d) 1978.

7. The author was astonished to learn that a port in what state was on the block for sale?
(a) California.
(b) Virginia.
(c) New York.
(d) Maine.

8. According to the author in Chapter 4: Blowout - The Commodities Bubble, speculators took over the commodities market and by 2008, what percent of commodity exchanges was speculative?
(a) 50.
(b) 70.
(c) 25.
(d) 80.

9. What is an independent self-regulatory organization and watchdog of the commodities and futures industry in the United States?
(a) The National Futures Association.
(b) The Farm Futures Commission.
(c) The Congressional Finance Commission.
(d) The Wikileaks Watchdog Corporation.

10. Barack Obama taught constitutional law at what university?
(a) The University of Chicago Law School.
(b) Boston College Law School.
(c) Harvard Law School.
(d) Yale University Law School.

11. When was Nancy Pelosi born?
(a) 1958.
(b) 1948.
(c) 1940.
(d) 1949.

12. The Commodity Exchange Act was enacted in what year?
(a) 1958.
(b) 1942.
(c) 1916.
(d) 1936.

13. What, according to the author, had been designed as a massive political deal with big giveaways to pharmaceutical companies in the form of subsidies and a big gift to the insurance industry in the form of the individual mandate?
(a) Capitalism.
(b) The Congressional Committee for Health Reform.
(c) The Congressional Committee for Finance.
(d) Obamacare.

14. Five years prior to the moment Priscilla Carillo started living in her car, the commodity indices rose from $13 billion to what amount?
(a) $143 billion.
(b) $893 billion.
(c) $200 billion.
(d) $317 billion.

15. The three sections of the Pennsylvania turnpike system total how many miles?
(a) 210.
(b) 581.
(c) 532.
(d) 154.

Short Answer Questions

1. In international relations, what refers to a re-establishment of cordial relations, as between two countries?

2. To what political party does Scott Brown belong?

3. The Prudent Man Rule is based on common law stemming from what Massachusetts court decision?

4. According to the author, the correlation between decreasing taxes and rising prices from ________ should not go unnoticed.

5. In 2008, what 24-year-old of San Bernardino, CA, quit school because she suddenly couldn't afford the gas that it took for the daily trip?

(see the answer keys)

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