QUES: The TSFSR existed from 1922 to 1936, when it was divided up into three separate entities (Armenian SSR, Azerbaijan SSR, and Georgian SSR). Armenians enjoyed a period of relative stability under Soviet rule. They received medicine, food, and other provisions from Moscow, and communist rule proved to be a soothing balm in contrast to the turbulent final years of the Ottoman Empire. The situation was difficult for the church, which struggled under Soviet rule. After the death of Vladimir Lenin, Joseph Stalin took the reins of power and began an era of renewed fear and terror for Armenians.
Who succeeded Vladimir Lenin?

ANS: Joseph Stalin

QUES: On July 6, John Kerry selected John Edwards as his running mate, shortly before the 2004 Democratic National Convention in Boston, held later that month. Days before Kerry announced Edwards as his running mate, Kerry gave a short list of three candidates: Sen John Edwards, Rep Dick Gephardt, and Gov Tom Vilsack. Heading into the convention, the Kerry/Edwards ticket unveiled their new slogana promise to make America "stronger at home and more respected in the world." Kerry made his Vietnam War experience the prominent theme of the convention. In accepting the nomination, he began his speech with, "I'm John Kerry and I'm reporting for duty." He later delivered what may have been the speech's most memorable line when he said, "the future doesn't belong to fear, it belongs to freedom", a quote that later appeared in a Kerry/Edwards television advertisement.
Who did John Kerry choose to be by his side as the potential Vice President?

ANS: John Edwards

QUES: Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensively detailed contracts, and swapped for more expensive loan products on the day of closing. Whereas the advertisement might state that 1% or 1.5% interest would be charged, the consumer would be put into an adjustable rate mortgage (ARM) in which the interest charged would be greater than the amount of interest paid. This created negative amortization, which the credit consumer might not notice until long after the loan transaction had been consummated.
What company used a classic bait-and-switch method by advertising low interest rates?

ANS: Countrywide Financial

QUES: Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil-exporting nations. The balance of payments identity requires that a country (such as the U.S.) running a current account deficit also have a capital account (investment) surplus of the same amount. Hence large and growing amounts of foreign funds (capital) flowed into the U.S. to finance its imports.
What emerging economies did the U.S. borrow money from between 1996 and 2004 to finance its imports?

ANS:
Asia and oil-exporting nations