Household wealth is defined as the value of a household's:
A)assets minus the value of its liabilities.
B)assets plus the value of its liabilities.
C)assets, including money in bank accounts.
D)liabilities.

Question

Quizplus · Accepted Answer

Household wealth is the value of a household's assets after subtracting the value of its liabilities. Assets include everything that a household owns, such as property, investments, and savings, while liabilities are debts and other financial obligations that the household owes. Subtracting liabilities from assets gives a more accurate picture of a household's net worth or, in other words, its wealth.

Household Wealth Is Defined as the Value of a Household's