At the beginning of the year, your wealth is $10,000. During the year, you have an income of $80,000 and you spend $90,000 on consumption goods and services. You pay no taxes. Your wealth at the end of the year is
A) $20,000.
B) $0.
C) $90,000.
D) $100,000.
E) $10,000.
Correct Answer:
Verified
Q1: The funds used to buy physical capital
Q2: Capital is
A)the tools, instruments, machines, buildings, and
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Q6: Which of the following is FALSE?
A)Saving adds
Q7: Capital stock increases when
A)gross investment exceeds net
Q8: At the beginning of the year, Tom's
Q9: At the beginning of the year, Tom's
Q10: Net investment equals
A)capital minus depreciation.
B)gross investment minus
Q11: The total amount spent on new capital
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