At the beginning of the year, your wealth is $10,000.During the year, you have an income of $90,000 and you spend $80,000 on consumption goods and services.You pay no taxes.Your wealth at the end of the year is
A)$90,000.
B)$10,000.
C)$20,000.
D)$0.
E)$100,000.

Question

Quizplus · Accepted Answer

Wealth at the end of the year = Beginning wealth + Income - Consumption
= $10,000 + $90,000 - $80,000
= $20,000

At the Beginning of the Year, Your Wealth Is $10,000