This quiz consists of 5 multiple choice and 5 short answer questions through Section III. The New Alchemy, Chapters 13-15 Masquerade in Moscow; The Best Enemy Money Can Buy; The Lost Treasure Map.

Multiple Choice Questions

1. How was the nationalization of banks justified?
(a) Nationalization was necessary for the public good.
(b) Nationalization was necessary for the banking industry.
(c) Nationalization was necessary for the IMF.
(d) Nationalization was necessary for the nation's standing in the world.

2. What happened to many homeowners when the housing market bubble burst?
(a) Suddenly people owed more money on their properties than they did when they took out the loan.
(b) Many homeowners had to take out second mortgages on their properties.
(c) Suddenly people owed more money on their properties than they were worth.
(d) Many homeowners were forced into foreclosure.

3. How is the Federal Reserve System reviewed in general?
(a) The Federal Reserve System had become the economic leader of the country.
(b) The Federal Reserve System had become the lender of last resort.
(c) The Federal Reserve System had become the nation's first source of lending.
(d) The Federal Reserve System had become known to have the strictest lending standards.

4. In what year was First Pennsylvania Bank bailed out?
(a) First Pennsylvania Bank was bailed out in 1973.
(b) First Pennsylvania Bank was bailed out in 1980.
(c) First Pennsylvania Bank was bailed out in 1975.
(d) First Pennsylvania Bank was bailed out in 1972.

5. What major banks failed in 1972?
(a) Unity Bank fell in 1972, as did the Commonwealth Bank of Detroit.
(b) First Bank of California and Wells Fargo Bank failed in 1972.
(c) In 1972, First Bank of Michigan and New York Bank both failed.
(d) In 1972, Bank of America and Citibank failed.