The Test of Economic Literacy (TEL), is a standardized multiple choice test developed under the auspices of the Joint Council on Economic Education with esteemed economists in an advisory role. The Test of Economic Literacy (TEL) is administered in many high school economics courses both to...

This paper analyzes the recent experience with state budget deficits in the United States, with an in-depth analysis of the California experience. Compared to prior recessions, states were slower to make adjustments in taxes and spending this time. The paper explores a variety of reasons for...