The financial literacy questions for those interested. Three questions. Seems pretty trivial.
Table A-2: Financial literacy questions
Question Response options
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have left in the account if you left the money to grow?
More than $102/
Exactly $102/ Less than $102/ Do not know
Imagine the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with this money in this account?
More than today/ Exactly the same/ Less than today/ Do not know
Please tell me whether or not this statement is true or false: Buying a single company’s stock usually provides a safer return than a mutual fund of stocks.
True/ False/ Do not know