๐๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐๐ถ๐๐ฒ๐ฟ๐ฎ๐ฐ๐ ๐๐ถ๐ป๐ฑ๐ถ๐ป๐ด๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐น๐ฒ๐ฑ
When it comes to economic literacy, males outperform females, older people outperform younger people and those with higher incomes outperform those with lower incomes.
Those are some of the key findings from a Reserve Bank survey on economic literacy (see chart). The survey asked six multiple-choice questions, which included:
* All else equal, a decrease in interest rates provides an incentive for people to:
a) save more and borrow more
b) save less and borrow less
c) save more and borrow less
d) save less and borrow more [correct answer]
* During a recession in an economy, there would normally be an increase in:
a) imports
b) unemployment [correct answer]
c) economic growth
d) business spending
* Say wages in the economy increased by 5% and prices increased by 7%. In terms of the goods and services they can buy,
a worker would be:
a) better off
b) worse off [correct answer]
c) neither better nor worse off
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge.
Weโll take the time to get to know you and your unique situation and speak in a
language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
