| Subject: | RE: [socialcredit] U.S. Economics Test | | Date: | Friday, August 10, 2007 00:48:10 (+0000) | | From: | John G Rawson <johngrawson @.......com>
|
| In reply to: | Message 4955 (written by KEITH WILDE) |
Silly question unless they have defined money as M0, notes and coins only,
when B could be considered. But for any other definition the answer is that it
becomes the deposits, which are part of the money supply on any higher
definition. That answer is not provided. Perhaps whoever set the test was not
too good on his or her economics?! Or do these people deliberately tell lies, as
I have heard a bank manager do to a Rotary Youth group in the past?
Regards. John R.
From: "KEITH WILDE" <keithwilde@sympatico.ca>
Reply-To:
socialcredit@elistas.com
To: socialcredit@elistas.com
Subject: RE:
[socialcredit] U.S. Economics Test
Date: Thu, 09 Aug 2007 18:07:49
+0000
>
>Are you going to keep us guessing about the "right"
answer?
>
>Keith
>
>>From: <william_b_ryan@yahoo.com>
>>Reply-To:
socialcredit@elistas.com
>>To: socialcredit@elistas.com
>>Subject: [socialcredit]
U.S. Economics Test
>>Date: Thu, 9 Aug 2007 08:17:59 -0700 (PDT)
>>
>>The graphic
accompanying the article in The New York
>>Times, which I've attached below,
contains this sample
>>question:
>>
>>"What happens to most of the money
deposited in
>>checking accounts at a commercial
bank?
>>
>>"A. It is used to pay the bank's expenses.
>>
>>"B. It is loaned to
other bank customers.
>>
>>"C. It is kept in the bank's vault until
depositors
>>withdraw the funds.
>>
>>"D. It is paid to owners of the bank as
return on
>>their
investment."
>>
>>---------------------------------------------------
>>
>>F_A_I_R__U_S_E__C_L_A_I_M_E_D
>>
>>Copyright
2007 The New York Times Company
>>August 9, 2007
>>12th Graders Show Better Grasp
of Market Forces Than
>>Expected on U.S. Economics Test
>>By SAM DILLON
>>
>>The
nation’s high school seniors performed
>>significantly better on the first
nationwide economics
>>test than they did on other recent national exams
in
>>history and science, and demonstrated higher than
>>expected understanding
of basic market forces like
>>supply and demand than officials
expected.
>>
>>Results of the economics test, which was administered
>>last year,
were released yesterday. A summary report
>>is available online at
nationsreportcard.gov.
>>
>>The Department of Education translates student
scores
>>on the test, known as the National Assessment of
>>Educational Progress, into
three achievement levels:
>>advanced, proficient and basic.
>>
>>On the economics
test, 42 percent of 12th graders
>>performed at or above the proficient level,
and 79
>>percent performed at or above the basic level. An
>>economics course is
required for graduation in only
>>about a
third of the states.
>>
>>“The numbers here are pretty good, really,”
said
>>Darvin M. Winick, chairman of the bipartisan body set
>>up by Congress to
oversee the test. “Given the number
>>of students who finish high school with a
limited
>>vocabulary, not reading well and weak in math, the
>>results may be as
good or better than we should
>>expect.”
>>
>>In contrast, only 13 percent of
12th graders performed
>>at or above proficient, and only 47 percent
performed
>>at or above the basic level on the national assessment
>>test in
history that was administered last year. On a
>>similar test in science in 2005,
only 18 percent of
>>12th graders performed at or above the proficient
>>level,
and 54 percent at or above
basic.
>>
>>Bruce L. Damasio, a high school economics teacher in
>>Towson, Md.,
who is president of the Global
>>Association of Teachers of Economics, said
the
>>economics results showed that “many of our 12th-grade
>>students have a pretty
good grasp of the logic of
>>economics.”
>>
>>“But when we look at the questions
they can answer and
>>the ones most of them get wrong,” Mr. Damasio said,
>>“we
see that many students are pretty shaky on the
>>terminology of economics and on
the actual ways that
>>government and financial systems work.”
>>
>>Mr. Damasio
cited a question that asked students to
>>identify the most likely effect of an
increase in the
>>hourly wage of baby sitters. Eighty percent of
>>students
answered correctly
that the time spent by
>>teenagers on baby sitting would likely go up,
whereas
>>time they spent on other activities would decrease, he
>>said.
>>
>>But on a
multiple-choice question that asked students
>>to identify one of the policy
tools of the Federal
>>Reserve, only 21 percent chose the correct
answer,
>>“buying and selling government securities.”
>>Thirty-seven percent
incorrectly chose “increasing or
>>decreasing government spending,” and 31
percent chose
>>“raising or lowering income taxes,” he said.
>>
>>“This means
that students haven’t learned that
>>Congress and the president determine
federal
>>spending,” Mr. Damasio said.
>>
>>The Department of Education periodically
administers
>>the nationwide tests in reading,
mathematics, science,
>>history, civics, geography and the arts. But
although
>>the federal testing program began in 1969, no national
>>assessment
had been conducted in economics until 2006.
>>
>>A nationally representative
sample of 11,500 seniors
>>in 590 public and private schools took part in
the
>>exam.
>>
>>The test questionnaire asked students to list any
>>economics
courses they had taken in high school.
>>Although a minority of states require
economics, 87
>>percent of seniors reported some exposure to economics
>>content
in high school.
>>
>>But the effect of that exposure was surprising. The
>>scores
of students who had taken economics courses
>>were not necessarily higher than
those who had not. On
>>average,
students who had taken Advanced Placement,
>>International Baccalaureate or an
honors course in
>>economics scored marginally higher than students who
>>had
taken no economics at all, but students who had
>>taken “consumer economics” or
business courses
scored
>>lower.
>>-
>>
>>
>>
>>____________________________________________________________________________________
>>Sick
sense of humor? Visit Yahoo! TV's
>>Comedy with an Edge to see what's on,
when.
>>http://tv.yahoo.com/collections/222
>>
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>><< 09report.gif
>>
>
>
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