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
2024-08-23
32
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 (困境,窘况), 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 U. S. 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 statements would the author most likely agree with?
选项
A、An economics course misleads students with false financial concepts.
B、Students shouldn’t be encouraged to participate in the debt market.
C、The high schools should stop teaching introductory economics.
D、Only with more rational design can an economics course be helpful.
答案
A
解析
转载请注明原文地址:https://tihaiku.com/zcyy/3732159.html
相关试题推荐
Thissortofrudebehaviourinpublichardly________apersoninyourposition.A、
Takingondebtisoneofthemostimportanteconomicdecisionsapersoncan
TypeDpersonality,firstdefinedinthe’90s,ischaracterizedbyfeelings
PassageSix[br]Whatdothecompanies’effortstokeeppersonalinformationpri
Theeconomicrecessionhasmeantthatjob________isararething.A、securityB、sa
I’djustassoonyou________thoseimportantpaperswithyou.A、don’ttakeB、didn’
Ofcourse,talkingaboutsomethingwhichaffectstheirpersonalityis________mo
Timeandmoneypressuresoftenpushyouintoatleastafew______decisionsthat
Overseasassignmentsarebecomingincreasinglyimportanttoadvancementwith
Overseasassignmentsarebecomingincreasinglyimportanttoadvancementwith
随机试题
Heissuchamanwhoisalways______faultwithotherpeople.A、puttingB、seeking
[audioFiles]audio_ehbm_j27002(20082)[/audioFiles]A、Sheisverynice.B、Sheisu
Topicsforcompositionshouldbe______totheexperiencesandinterestsofthes
使用程序设计的控制结构导出测试用例的测试方法是()。A.黑盒测试 B.白盒测
某非抗震设计的单层钢结构平台,钢材均为Q235B,梁柱均采用轧制H型钢,X向采用
下列哪项是上消化道呕血且不易控制的疾病A.胃癌晚期 B.急性胃肠炎 C.消化
肝癌患者术前肠道准备中,口服新霉素的主要目的是A:减轻腹压 B:增加肠蠕动
为防止()过电压烧损电压互感器,倒闸操作时,不宜使用带断口电容器的断路器投切带电
房地产投资中,若甲项目每年的净现金流量为乙项目相应年份净现金流量的2倍,通过分别
出现下列情况时,不需要修订基本标准成本的是()。A.产品的物理结构发生变化 B
最新回复
(
0
)