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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. When was The Fountainhead published?
(a) 1943.
(b) 1967.
(c) 1941.
(d) 1954.

2. With what Tea Party member did Matt Taibbi travel around Nevada in Chapter 1?
(a) Sarah Palin.
(b) James Williams.
(c) Bill Parsons.
(d) Michele Bachmann.

3. 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) Absurdism.
(b) Objectivism.
(c) Pluralism.
(d) Subjectivism.

4. 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) Derivitaves market.
(b) Subsidized market.
(c) Unsubsidized loans.
(d) Ponzi scheme.

5. For what political party was Sarah Palin the nominee for Vice President of the United States?
(a) Green Party.
(b) Tea Party.
(c) Democrat.
(d) Republican.

Short Answer Questions

1. Who is the protagonist of The Fountainhead?

2. From 1948 to 1953, Alan Greenspan worked as an economic analyst at what business and industry oriented think-tank in New York City?

3. Ronald Reagan was the thirty-third governor of what state?

4. When was Alan Greenspan born?

5. According to the author, the top one percent of Americans own almost what percent of the wealth?

Short Essay Questions

1. How did Matt Taibbi feel about the Presidential campaign in Chapter 1? What events were unforeseen at this point in history?

2. How does the Tea Party mislead its followers from the true enemy, according to the author?

3. Describe Alan Greenspan's childhood and education. Where did Greenspan study economics?

4. What does Taibbi assert to be the fundamental problem the the Tea Party's approach?

5. Describe the different tranches of subprime loans discussed in Chapter 3. What were the differences between the tranches?

6. How did Ayn Rand influence Alan Greenspan, and in effect, American finance?

7. What process did banks undertake in order to sells risky loans, as described in Chapter 3?

8. With what Tea Party member did Taibbi travel? What did he discover about the Republican candidates' issues?

9. What actions did Alan Greenspan take which led directly to the housing bubble bust?

10. How did Greenspan's views of American politics change over time?

(see the answer keys)

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