Frightening Fact: 3 simple questions on finance most people don't know the answer to

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According to a recent survey by American economists, Annamaria Lusardi and Olivia Mitchell, a majority of people cannot answer three very simple questions about finances right; the startling data shows that 70% of all Americans are not able to answer all three questions correctly, while in Russia, results show a numbing 96% error rate. Although, as the authors state, it might not be a magical cure for financial turmoils, a better  basic financial and economic education would lead to more balanced decision making when it comes to personal finances. Read on... source: The Atlantic