Refer to the box titled, The Balance Sheet of an Average American Household when answering Parts a

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Refer to the box titled, “The Balance Sheet of an ‘Average’ American Household” when answering Parts a and b.

a. Based on this evidence, has the financial position of the average household improved during this period of time? Explain your answer.

b. What do you think the average household balance sheet looks like today? Explain your answer.

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