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This quiz consists of 5 multiple choice and 5 short answer questions through Section II. A Crash Course on Money, Chapters 9-10 The Secret Science; The Mandrake Mechanism.

Multiple Choice Questions

1. How did the banks make their money?
(a) The banks made money on their cash flow.
(b) The banks made money on interest, not principle, payments.
(c) The banks made money on both interest ad principle payments.
(d) The banks made money on principle, not on interest payments.

2. What is the fundamental basis of capitalism?
(a) The main idea behind capitalism was investment and return on investment.
(b) The main idea behind capitalism was providing welfare to the less fortunate.
(c) The main idea behind capitalism was making money and hoarding cash.
(d) The main idea behind capitalism was making investments in foreign interests.

3. What did the issuance of the first paper money lead to?
(a) The lending process evolved from the establishment of the paper money system.
(b) Stronger economies evolved from the establishment of the paper money system.
(c) Banks evolved from the establishment of the paper money system.
(d) The class system evolved from the establishment of the paper money system.

4. How did the government provide economic support to Lockheed Corporation in 1970?
(a) In 1970, the US government agreed to pay Lockheed Corporation twenty-percent over their selling prices.
(b) In 1970, Lockheed Corporation was made a unit of the Defense Department.
(c) In 1970, Lockheed Corporation was forgiven of all defense-related debt.
(d) In 1970, Lockheed Corporation had troubles and became a prime government contractor, another way of nationalizing private industry.

5. Why was there skepticism about the author's analysis?
(a) The author was found to be a lobbyist for conservative causes.
(b) The author was not considered an expert on the subject.
(c) Doubt existed because the author's entire analysis was an exercise in historical analysis from subsequent events, which is by nature flawed due to the guesswork involved.
(d) The author refused to be questioned about his research.

Short Answer Questions

1. What was the main argument in favor of nationalizing banks?

2. How was the nationalization of banks justified?

3. What happened to many homeowners when the housing market bubble burst?

4. What is the basic structure of the U.S. monetary system?

5. How did unemployment impact the economic problems?

(see the answer key)

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