首页
登录
职称英语
Taking on debt is one of the most important economic decisions a person can
Taking on debt is one of the most important economic decisions a person can
游客
2023-11-04
39
管理
问题
Taking on debt is one of the most important economic decisions a person can make. Borrowing to invest in education can yield a large return. However, debt is a risky endeavour, and can carry a high cost if it is not promptly repaid. Compound interest can amplify even small periods of delinquency, leading to lower incomes, scarred credit ratings, even bankruptcy. Yet those who take on the most debt are the young, people who need to make large investments in education and housing, but who generally lack any experience with financial matters. Fortunately, new research shows that courses in finance at school can help solve this predicament(困局,穷境), reducing the harmful repercussions(反响)from taking on too much debt later in life.
The authors study the impact of a large scale expansion of finance-related courses in US high schools. In 1999, mandatory teaching of economics and financial literacy was minimal. Illinois was the only state which had a compulsory course on financial literacy, and only 10 states ensured that their students covered basic economics. However, over the subsequent decade the majority of states introduced compulsory courses in these areas, including extending the sequence of mathematics classes each student must take to graduate. To measure the impact of financial education, the authors tracked each group of students which were forced to take these subjects and compared their subsequent interactions with debt using the New York Federal Reserve’s Consumer Credit Panel.
The authors found that increased education about financial concepts broadly lowered the rates of bankruptcy among former students. It also led to a delay in the purchase of their first house(a risky investment at the best of times). Perhaps unsurprisingly, they also found that the effects of education varied according to which subjects were taught. Increasing education in mathematics and finance improved debt outcomes later in life. Students were less likely to be declared bankrupt and more likely to repay their debt on time, although these effects faded with age. Curiously, the introduction of an economics course led to higher debt burdens, with increased rates of delinquency later in life. The authors speculate that this may be because learning about economics provides students with a false sense of confidence(a trait not uncommon amongst professional economists): demystifying(阐明,启发)the debt market enough to encourage participation, but not providing enough detail to warn of the potential dangers. This makes sense as introductory economics largely avoids topics such as compound interest and repayment plans, which are critical to understanding how debt works.
The benefits of an education in economics aside, the study ultimately highlights the importance of understanding the basics of personal finance—a respect of life that everybody must engage with. As this research confirms, those who understand interest earn it: those who don’t, pay it. [br] Which of the following may serve as the best title of the passage?
选项
A、Increasing Financial Literacy
B、Avoiding Taking on More Debt
C、Improving Financial Education
D、Knowing More about Finance
答案
A
解析
主旨题。全文主要围绕一项关于高中开展金融知识教育的研究,指出合理设置课程,提高学生金融方面的知识和能力,对未来避免过多负债十分重要,这与[A]所说的提高金融能力相符合,故为答案。
转载请注明原文地址:https://tihaiku.com/zcyy/3158780.html
相关试题推荐
Haveyoueverbeeninasituation______youknowtheotherpersonisrightyet
Takingphotographsisstrictly______here,asitmaydamagethepreciouscavep
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
Jobsatisfactionisabusinesstermthatreferstoaperson’scontentmentwi
随机试题
[originaltext]Lookingtoimproveyourlanguageskills,butyoudon’thave
[originaltext]AnincreaseinsuicideratesamongUSteensoccurredatthes
审查材料采购成本构成时,应检查其构成项目是否正确。以下项目中应计入材料采购成本的
关于以下对测量不确定度的要求,说法错误的有()。A.对交流电压的测量,有
下列关于行政诉讼的证据种类表述正确的是()。A、以有形载体固定或者显示的电子数据
某工程采用筛分法测得土样的颗粒组成数据如下表所示:(5)该土样粗粒组数量约占总质
一般来说,股权再融资对企业产生的影响主要包括( )。A、对公司资本结构的影响
速度v、长度l、运动粘度v的无量纲组合是:
所有制实现形式( ) A.决定所有制自身的性质 B.主要是指资产或资本的组
按支出法统计的GDP,是指一个国家或地区在一定时期内的()之和。A.消费、投资
最新回复
(
0
)