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What American Teens & Adults Know About Economics

What American Teens & Adults Know About Economics

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Published by Daniel Holloway

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Published by: Daniel Holloway on Nov 25, 2009
Copyright:Attribution Non-commercial

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10/21/2011

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www.harrisinteractive.com
©2005, Harris Interactive Inc. All rights reserved.
What American Teens & Adults Know AboutEconomics
Prepared for:The National Council on Economic EducationProject Directors:Dana Markow, Ph.D., Senior Research Director Kelly Bagnaschi, Senior Research Assistant
J22575
Field Period: January 12 –February 10, 2005Report Date: April 26, 2005
 
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Harris Interactive Inc.
Table Of Contents
Background and Objectives……………………..…………………………............................3Methodology……………...……...………………………………………………………….…...4Executive Summary……………………...…………………...…………………..…………….5Major Findings……………………...…………………...…………………..…………………..9Detailed Findings………………………………………………………………………………..13The Quiz:Economics and the Consumer......................……………………………..........14Factors Pertaining to Production........................…………………......……......20Money, Interest Rates and Inflation..........................…………………….…….26Government and Trade in Economics…………………………………………...31Personal Finance.........................………………….…...………………………..38Overall Score.........................………………..………….………………………..43Changes Over Time: Students.........................……………..……………………………..51Economics & the Consumer…………………………………..…………………..53Factors Pertaining to Production………………………………………………….59Money, Interest Rates and Inflation………………………………………………64Government and Trade in Economics……………………………………………67 Attitudes and Experiences Related to Economics…………………………………………71
 
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Harris Interactive Inc.
Background And Objectives
In 1999, Harris Interactive (then known as Louis Harris & Associates, Inc.)conducted
The Standards in Economics Survey 
on behalf of the National Councilon Economic Education (NCEE). The survey was designed to evaluate adult andstudent understanding of basic economics as outlined in the Voluntary NationalContent Standards in Economics, developed and published by NCEE in 1997.The survey examined adult and student familiarity with basic economicprinciples, knowledge about the U.S. economy, and understanding of some keyeconomic terms. In addition, the survey assessed interest in economics and theperceived importance of understanding basic concepts in economics. The adultsurvey was conducted by telephone and the student survey was conducted by aself-administered paper questionnaire in the classroom.In 2005, the NCEE asked Harris Interactive to conduct a follow-up study toexamine adults’and students’current understanding of economics and how thishas changed over the intervening years. The current survey alsoincludes anadditional set of questions focused on concepts of personal finance. Both theadult and student surveys were conducted using the same, self-administeredonline methodology.

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