Are you Economically Literate?

michaels

chewmylegoff wrote: »

I got 19/20, because the answer to question 8 is wrong. As ne fule kno, if you cap rents then all greedy BTLers will sell, the price of houses will crash and everyone will receive a free 4 bedroom detached house upon turning 18, thus there will be no demand for rentals at all!

Also, why did someone give a "don't know" option in a multiple choice test!

It is interesting given what a strong constituency there is for rent controls (I suspect well over 50% of the population would be in favour if asked) that no one is challenging the economics of it.

I thought a valid answer to some of the questions could have been 'Can't say' which I took 'Don't know' as a proxy for.

DiggerUK

Generali wrote: »

I got 19/20 and don't agree with their answer to the one I got wrong (Q16). I put B.

Ditto.....but then again, the americans would say that wouldn't they..._

Dan83

I know very little about all this economy stuff, I read these boards to try to educate myself abit, but I got 18/20 despite not really understanding some of the questions!

HornetSaver

chewmylegoff wrote: »

Also, why did someone give a "don't know" option in a multiple choice test!

When I was at school there used to be a national maths challenge. Quite difficult questions for the age group, albeit all multiple choice and all solveable with skills that those with a strong grasp of the curriculum for their year group would have been taught. One of the options for each question was "don't know".

IIRC you'd get 5 points for a correct answer, 0 points for saying don't know, -1 for not getting to the question or for signs of having answered the question but erased the answer without giving another, and -2 for an incorrect answer.

It was an absolutely fantastic structure, because it rewarded conviction, problem solving abilities and off-the-wall thinking, but also put humility and discipline ahead of guesswork and ego.

Doesn't answer your specific question, but just wanted to make the point that there are circumstances where don't know in a multiple choice test has been thought through.

worried_jim

19/20. Like most got Q20 wrong, good quiz though.

Mistermeaner

Nailed it apart from the first question Cant remember how old I am

Linton

20/20 and I agree with all the answers.

Jason74

20/20 for me :beer: , albeit I think the right answer to a couple of the questions in the real world depends on context, esp. 14.

sammyjammy

PasturesNew wrote: »

16/20. Although my eyes glazed over as it was so dull.

Me too, great minds think alike and I got 16 too, quite pleased with that as peoples knowledge on this board sometimes scares me.....

Mistermeaner

Some numpty reported my related thread and had it removed