1. How open to questioning were the original participants of the 1910 meeting?
(a) The participants at the 1910 meeting would only agree to talk about the establishment of the Federal Reserve with the New York Times.
(b) Most of the participants at the 1910 meeting openly talked about the establishment of the Federal Reserve in interviews conducted years later.
(c) Only some of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.
(d) None of the participants at the 1910 meeting talked about the establishment of the Federal Reserve in interviews conducted years later.

2. How does a currency drain occur within the banking system?
(a) A currency drain occurs when the government devalues the currency system.
(b) A currency drain occurs when the Federal government demands repayment of loans.
(c) A currency drain happened when many depositors wrote checks, and the receivers of the checks cashed them at another bank, thereby requiring more money from the first bank than it had on hand.
(d) A currency drain occurs when foreign investors withdrawn their funds from US banks.

3. What is the definition of a public run on a bank?
(a) A public run was when many depositors demanded their cash from a bank and wiped out the bank's reserves.
(b) A public run is when the government puts a bank up for sale.
(c) A public run occurs when a bank runs out of cash.
(d) A public run occurs when the Federal government takes ownership of a bank.

4. Why was the "Federal Reserve System," so named?
(a) The "Federal Reserve System" was so named so that people would have respect for it.
(b) The "Federal Reserve System" was so named so that people would know that it was part of the Federal government.
(c) The "Federal Reserve System" was so named because its offices were not state run.
(d) The "Federal Reserve System" was so named so that people would think it was part of the Federal government.

5. What economic group is hit the hardest by an inflation?
(a) Inflation damages only the very poor in a society.
(b) Only the very wealthiest people are hurt by inflation.
(c) Only the middle class is hurt by inflation.
(d) Inflation has been a problem for the rich and poor alike, although it hit the chronically poor harder than anyone.