The Pew Research Center’s latest News IQ Quiz, conducted Nov. 11-14 among 1,001 adults, finds a similar pattern in the public’s knowledge about economics. The quiz is composed of 13 multiple-choice questions about current events.
Nearly eight-in-ten (77%) say correctly that the federal budget deficit is larger than it was in the 1990s and 64% know that in recent years the United States has bought more foreign goods than it has sold overseas. As in recent knowledge surveys, about half (53%) estimate the current unemployment rate at about 10%.
But the public continues to struggle with questions about the Troubled Asset Relief Program? known as TARP: Just 16% say, correctly, that more than half of the loans made to banks under TARP have been paid back; an identical percentage says that none has been paid back. In Pew Research’s previous knowledge survey in July, just 34% knew that the TARP was enacted under the Bush administration. (See “Well Known: Twitter; Little Known: John Roberts,” July 15, 2010.)
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