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  3. The potential economic benefits of financial literacy extend beyond government budgets. More in formed consumers--not just inves

The potential economic benefits of financial literacy extend beyond government budgets. More in formed consumers--not just inves

admin2010-06-30  62
问题      The potential economic benefits of financial literacy extend beyond government budgets. More in formed consumers--not just investors--would increase the efficiency of markets and help keep dishonest sellers at bay. If financial illiteracy leads to greater debt, then increased consumption today will be at the expense of less later, as interest payments weigh on household budgets.
      Once people make financial decisions, they tend to stick to them even if a change might make more sense. Watson Wyatt, a consultancy, says that about half of Britons in defined-contribution pension: plans (in which retirement benefits depend on investments’ performance) never change the allocation of assets. One-third have not even reviewed them for several years. There is evidence that such inertia is a feature of other financial markets, including the one for mortgages.
      America has had a variety of financial-education programmes for some time, generally relying on the private sector. Most large companies and many smaller ones put on investment seminars for their employees, run by outside experts. Many of those who attend these seminars later increase their saving for retirement.
     However, there is a fine line between education and advice. Although education and sales are meant to be strictly separated, many of those giving the seminars work for firms that sell financial products. Some employers have been hesitant to sponsor financial seminars for fear of being sued, notes Lynn Dudley of the American Benefits Council, a lobby group. Two bills now before Congress at tempt to deal with this question. Meanwhile, a growing number of pension schemes offer "lifestyle" or "life-cycle" funds.
      Despite all the activity, experts caution against putting too much faith in financial education. "This is not the silver bullet that some people think it is, "says Ms. Smith. No campaign can hope to reach everyone. In addition, although those with more knowledge of finance tend to save more and make higher returns on their long-term investments, the strength of the effect is not clear.
     Annamaria Lusardi ,an economist at Dartmouth College, and Olivia Mitchell .of the University of Pennsylvania’s Wharton School, have found that few employees attend financial seminars even when they are offered in the workplace. Skepticism about hidden sales pitches and slanted advice abounds, particularly in the waive of recent mutual-fund scandals. "Workers are entitled to believe this is not an objective voice, "says Ms. Lusardi. Many who attend do not absorb what they hear, for want of under standing or interest.
What do experts think of financial education?
选项 A、It cannot always solve a financial problem for everybody quickly.
B、It can help you to get to know the financial rules.
C、It cannot help you to save more and make higher returns.
D、It can exert great effect on everybody’s financial plan.
答案A
解析 根据文章倒数第二段可知专家们建议人们不应过于信任金融教育，因为它不是像一些人所认为的那样能很快地为任何人解决所有问题。B和D文章未提及。C与文意相反。
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