This week is the second quiz in our short series on the family as an economic unit.
Last week we highlighted a bulletin from the Board of Governors of the Federal Reserve System reporting that mean (average) and median (middle point) incomes of families grew between 2013 and 2016, after adjusting for inflation.
This same bulletin also reports that inflation-adjusted median and mean net worth for families also grew between 2013 and 2016, after a period of decline in net worth from 2007-10 and stagnation from 2010 through 2013.
What was the median net worth for families in 2016?
What was the mean net worth for families in 2016?
Answers: D and A. Between 2013 and 2016, inflation-adjusted median net worth for families grew by 16 percent, from $83,700 to $97,300. The inflation-adjusted mean net worth for families grew by 26 percent over the same period, from $551,300 to $692,100.