Financial education is essential, yet on average, adults scored 57 percent on basic economic knowledge, according to the "Standards in Economics Survey" conducted in 1999 for the National Council on Economic Education. The Community Affairs Department at the Federal Reserve Bank of Cleveland surveyed financial institutions and community…

This document reports some of the findings of a national assessment of seventeen-year-olds on consumer knowledge, skills, and attitudes. An introduction describes the development of the survey, the probability sample, the administration of the assessment, and the format for reporting the results. Chapter 1 of five chapters summarizes the responses…