Thursday, March 12, 2009

Economic Knowledge

I came across a survey which showed how poorly high school students understand economics. I wonder if you gave it to Congress if they would do any better. Or president Obama for that matter...

In 1999, researchers at the Securities and Exchange Commission concluded that 66 percent of high school seniors could not pass a basic economic literacy test. Things have not changed for the better since.

In 2008, the Jump$tart Coalition for Personal Financial Literacy administered its financial literacy test to 6,856 high school seniors in 40 states. The overall score was 48 percent. Only 17 percent knew investing in stocks would probably generate the most return over an 18-year period.

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