Chapter 3 - SUMMARY – The Creature From Jekyll Island

Quiz
•
Financial Education
•
9th Grade
•
Easy
DAVID NEWCOMB
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What event in 1970 led to the bailout of Penn Central railroad?
The Penn Central bankruptcy
The oil crisis
The stock market crash
The Watergate scandal
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In 1970, how much money did Congress grant in loan guarantees to prevent banks from being at risk due to Penn Central's bankruptcy?
$125 million
$250 million
$500 million
$750 million
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The main reason for Congress to guarantee $250 million in new loans to Lockheed in 1970 was:
To support the development of new military aircraft
To prevent the company's bankruptcy
To promote technological innovation
To increase employment opportunities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In 1975, how much did Congress authorize in direct loans to New York City?
$2.3 billion
$1.5 billion
$3.0 billion
$4.5 billion
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In 1978, what was the amount guaranteed by Congress in new loans to Chrysler?
$1.5 billion
$2 billion
$1 billion
$500 million
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happened to the Commonwealth Bank of Detroit in 1972, and how did the FDIC respond?
The bank was nationalized by the government.
The bank was closed and the FDIC arranged a merger.
The bank was fined for regulatory violations.
The bank expanded its operations internationally.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The situation of the First Pennsylvania Bank of Philadelphia in 1979 and the measures taken by the FDIC and the Federal Reserve can be described as:
A period of financial stability with no intervention needed.
A financial crisis that required intervention by the FDIC and the Federal Reserve.
An era of rapid growth and expansion for the bank.
A minor setback that was resolved internally without external help.
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