Elaine owns a beautiful diamond ring she purchased for $2,500.When she has it appraised she learns that it is now worth $3,000.Based on this information:
A) Elaine's saving this year has increased by $500.
B) Elaine's saving this year has decreased by $500.
C) Elaine has experienced a $500 capital gain.
D) Elaine's wealth is unchangeD.Elaine has an existing asset that increased in value.Thus, she has realized a capital gain.
Correct Answer:
Verified
Q11: Wealth is the same as:
A)net worth.
B)assets.
C)capital gains.
D)savings.
Q16: Jordan's wealth is _, the value of
Q17: Suppose that Taylor receives a $10,000 bonus
Q18: Current income minus spending on current needs
Q19: What is the value of Taylor's liabilities?
Q22: Capital gains are _, and capital losses
Q24: Saving $100 will:
A)increase wealth by $100.
B)increase wealth
Q24: High rates of saving today contribute to
Q27: Saving is a(n)_ and wealth is a(n)_.
A)stock;
Q29: The stock of wealth increases more rapidly
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