Differentiate Income and Wealth

One main difference between income and wealth is which: (w) wealth is inherited, income is earned. (x) income generates wealth, wealth cannot generate income. (y) all income is subject to taxation, most wealth is not. (z) wealth is a stock variable, income is a flow variable.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : State drawbacks of barter system State

State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s

Q : Long-run supply curve of a purely

Long-run supply curve of a purely competitive industry has a slope which is: (w) negative to offset the positive slope of each firm’s short-run supply. (x) positive to reflect the positive slope of each firm’s short-run supply. (y) depende

Q : When is not total annual revenue

As per this demonstrated figure in below, unless something changes the total annual revenue of Robot Butlers, Inc. Can’t exceed: (1) $10,000. (2) $20,000. (3) $100 million. (4) $200 million. (5) $400 million.

Q : Categorizing goods into intermediate

Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.

Q : Pay annual income by perpetuities bonds

When all bonds are perpetuities which pay annual income of $50, at an interest rate of 5% the price of bonds is: (w) $1,000. (x) $500. (y) $100. (z) $750. Can someone explain/help

Q : Profits and losses in long run In the

In the long run: (i) purely competitive firms make zero economic profits. (ii) monopolistically competitive firms make zero economic profits. (iii) effective barriers to entry may permit economic profits. (iv) oligopolists and monopolists may realize

Q : Breaking natural monopoly Breaking a

Breaking a natural monopoly within a number of competing firms would probably: (w) increase output and lower price to consumers. (x) reduce output and raise price to consumers. (y) reduce efficiency but lower price. (z) have no effect on output or pri

Discover Q & A

Leading Solution Library

Avail More Than 1421090 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931350
Asked

3,689

Active Tutors

1421090

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment