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?

#### Related Questions in Microeconomics

• ##### Q :Price discrimination in the sale of a

Price discrimination in the sale of a good show charging various prices that: (w) reflect differences in production costs. (x) do not reflect differences in production costs. (y) are dictated by market conditions. (z) cause a monopoly to be inefficien

• ##### Q :Quantity sold of total revenue of pure

Total revenue of a pure competitor is its quantity sold that is multiplied by its: (w) profit per unit. (x) price per unit. (y) average variable cost. (z) overhead cost per unit.

Can someone explain/help me with be

• ##### Q :Illustrate an example of arbitrage

Purchasing oil into Kuwait for \$22 per barrel and selling that you purchased for \$30 per barrel into Sao Paolo is an illustration of: (w) speculation. (x) bifurcation. (y) a subsidy. (z) arbitrage.

I need a good answer on the topic

• ##### Q :Perfect Equality of Income Distribution

A Lorenz curve which is identical to a 45 degree line by the origin indicates as: (w) perfect equality of income distribution. (x) complete inequality of income distribution. (y) unitarily elastic supplies of labor. (z) which poverty is prevalent.

• ##### Q :Determine profit maximizing A

A monopolist has an inverse demand curve given by p(y) = 12 - y and a cost curve given by

c(y) = y2.

(a) What will be its profi t maximizing level of output?

• ##### Q :Competitive Profit Maximization Can

Can someone please help me in finding out the accurate answer from the following question. The profit-maximizing competitive firm hiring from the competitive labor market will be in balance or equilibrium where: (i) w = MRC. (ii) MPP = MRC. (iii) VMP = MPP. (iv) VMP =

• ##### Q :Problem regarding Labor Union Goals The

The union goal of maximum employment would make most of the union members: (1) Happy as unemployment rates would be zero. (2) Happy since of the big union membership. (3) Unhappy as only a very low wage maximizes employment. (4) Unhappy as they don’t understand

• ##### Q :Perfectly demand elasticity On a

On a horizontal demand curve, there: (w) demand is perfectly elastic. (x) demand is perfectly inelastic. (y) the elasticity of demand varies. (z) demand is unitarily elastic.

Can someone explain/help me with best s

• ##### Q :What is generated by imposition of a

Imposition of a price floor tends to generate a: (w) shortage of the good. (x) surplus of the good. (y) excess demand for the good. (z) sellers’ market for the good.

Hey friends please give your opinion for t

• ##### Q :Monopolist of profit maximizing When

When this is feasible for total revenue to cover all variable costs, in that case a profit maximizing monopolist will generate: (w) where marginal revenue equals marginal costs [MR = MC]. (x) in the inelastic portion of the demand cur