The best measure of a person's or family's net wealth is
A)the highest level of education received.
B)the amount of annual income.
C)the value of what you own minus the value of what you owe.
D)their tax bracket.

Question

Quizplus · Accepted Answer

Net wealth refers to the value of what you own minus the value of what you owe, commonly known as net worth. This includes assets such as properties, investments, and savings, minus liabilities such as mortgages, loans, and credit card debts. Therefore, option C is the best measure of a person's or family's net wealth. Option A is irrelevant as education does not directly relate to wealth. Option B is also not an accurate measure of net wealth as it only reflects annual income and not the overall financial status. Option D is not relevant as tax bracket only identifies the amount of tax someone pays and not their net worth.

The Best Measure of a Person's or Family's Net Wealth