Explain the concepts of wealth and income and how they relate to the concept of money.
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Q1: _ is a flow of earnings per
Q3: Which of the following statements uses the
Q7: Even economists have no single, precise definition
Q8: _ is used to make purchases while
Q11: Income is a _ and wealth is
Q14: A person's house is part of her
A)money.
B)income.
C)liabilities.
D)wealth.
Q14: There is no single precise measure of
Q18: The total collection of pieces of property
Q19: To an economist,_ is anything that is
Q20: When we say that money is a
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