Answer to Question #80989 in Macroeconomics for Joyce

Question

For the following statements, state Agree or Disagree. And provide brief explanations:

More than a half of the money issued by the government is actually held by people in foreign countries. Australia is hence less than half as wealthy as government statistics indicate’

Answer 1

I cannot agree with this statement:
First, the money issued by the government is not the country's wealth.
Secondly, the article may be related to the debt that the government issues with a deferred payment.
And the wealth of the country is the value of assets minus debts.