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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. What caused the collapse of the Bank of Hamburg in 1813?
(a) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the Nazi Party rose to power.
(b) Formed in the early 1600s, the Bank of Hamburg stayed solvent until the stock market crash of 1929.
(c) Formed in the early 1600s, the Bank of Hamburg stayed solvent until World War I.
(d) Formed in the early 1600s, the Bank of Hamburg stayed solvent until Napoleon captured it in 1813.

2. What were the results of the Russian revolutions?
(a) The first revolution brought in a a somewhat democratic government, while the second brought in a a somewhat democratic government.
(b) The first revolution brought in a monarchy, while the second brought in a tyrannical government.
(c) The first revolution brought in a somewhat democratic government, while the second brought in a a somewhat democratic government.
(d) The first revolution brought in a somewhat democratic government, while the second brought in an oligarchy.

3. What is the basic structure of the U.S. monetary system?
(a) The monetary system in the U.S. was constructed for debt to be necessary in order for Federal Reserve to remain in control of monetary concerns.
(b) The monetary system in the U.S. was constructed for debt to be necessary in order for the economy to flourish.
(c) The monetary system in the U.S. was constructed for debt to be necessary in order for the Congress to pass tax increases.
(d) The monetary system in the U.S. was constructed for debt to be necessary in order for the money supply to remain in existence.

4. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(b) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.
(c) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.
(d) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.

5. What is the Rothschild Formula?
(a) The Rothschild Formula means that money could be made from warfare when the US is on the winning side.
(b) The Rothschild Formula means that money could be made from warfare and from the winning side of the conflict.
(c) The Rothschild Formula means that money could be made from warfare and from both sides of the conflicts.
(d) The Rothschild Formula means that money could be made from warfare when the winning side stands for social reform.

Short Answer Questions

1. How were some organizations able to profit during the boom-bust cycle?

2. What does the author predict for the U.S. economy?

3. What bank was The Bank of North America modeled after?

4. Why was the use of fiat money disallowed in the United States?

5. After the 1950s, what was the standard of measure used to estimate the US debt?

Short Essay Questions

1. According to Chapter 12, what event sparked the conflicts that led to World War I?

2. In Chapter 16, when was the first central bank founded in the US?

3. According to Chapter 18, what impact did stable banking practices have?

4. According to Chapter 25, what did the author predict for the U.S. economy?

5. In Chapter 10, what resulted from the Mandrake Mechanism?

6. According to Chapter 22, when was the Federal Reserve Act passed?

7. According to Chapter 11, what is the Rothschild Formula?

8. In Chapter 9, what restrictions were placed on the Bank of Amsterdam which was established in 1609?

9. In Chapter 11, what place in history does the Rothschild family hold?

10. According to Chapter 14, how many revolutions did Russia actually undergo?

(see the answer keys)

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