In early 2006, more than $55 trillion in securities, deposits and other financial assets were held by domestic nonfinancial businesses, households and governments in the United States and represents their financial wealth. After subtracting the total debt owed by these groups, it leaves us with the net financial wealth of:
A) $12 trillion
B) $15 trillion
C) $20 trillion
D) $30 trillion
E) $75 trillion

Question

Quizplus · Accepted Answer

The net financial wealth is calculated by subtracting the total debt owed by the domestic nonfinancial businesses, households, and governments from their total financial assets. Given that the total financial assets amount to more than $55 trillion, and after subtracting the debt, if the net financial wealth is one of the provided options, $20 trillion (C) is the correct answer based on the information provided.

In Early 2006, More Than $55 Trillion in Securities, Deposits