Question: 1. The Hamilton household has $145,000 in assets and $63,000 in liabilities. What is the family's net worth?
2. Harold Daley budgeted $210 for food for the month of July. He spent $227 on food during July. Does he have a budget surplus or deficit, and what amount?
3. Net worth is determined by assets ($145,000) minus liabilities ($63,000), resulting in a net worth of $82,000.
4. The budget deficit of $17 is calculated by subtracting the actual spending ($227) from the budgeted amount ($210).