Exam 3: Breaking Down the Wealth Equation: Housing, Assets, and Debt

Which of the following best describes the concept of wealth?

What is one example of a non-financial asset?

What is the largest asset held by most households?

Social scientists often rely on people's incomes to measure everything from social class to economic wellbeing to poverty.

Recent immigrants to Canada hold, on average, the same amount of wealth as other Canadians.

Social assistance, old age security and the Canada Pension Plan are examples of wealth.

Households with one or more members with a disability accumulate less wealth than other households.

Housing decisions are not only about housing, but also influence:

What are the key differences between wealth and income? How do levels of wealth affect inequality?

Women hold equal amounts of wealth as men, but single households hold more wealth than two-adult households.

Which of the following investments are not taxed in Canada?

How do you calculate the assets in the wealth equation?

Wealth has greater consequences and is more stable than income.

The pandemic exposed many of the inequalities experienced in Canadian society. It also reinforced the importance of housing in which of the following ways?

Which is the following is not a source of income?

What can count as a reason for new immigrants to have less wealth than other Canadians?

Households with higher levels of income have higher debt.

In Canada in 2019, the upper 20 percent of the population held -0.01 percent of the total wealth.

Most people's primary income source is employment through the labour market.

Financial assets are primarily located in high-income and high-wealth neighbourhoods compared to non-financial ones.