Households with higher levels of income have higher debt.

Question

Quizplus · Accepted Answer

This statement is generally true as households with higher income levels have greater access to credit and may be more willing to take on debt in order to maintain a certain standard of living or fund investments. However, there are individual cases where households with lower incomes may have higher debt due to financial struggles or an inability to make ends meet without borrowing.

Households with Higher Levels of Income Have Higher Debt