Jay owns a classic car he purchased for $50,000. At a car rally a knowledgeable classic car enthusiast offers him $75,000 for the car. Based on this information:
A) Jay's saving this year has increased by $25,000.
B) Jay's saving this year has decreased by $25,000.
C) Jay has experienced a $25,000 capital gain.
D) Jay's wealth is unchanged.
Correct Answer:
Verified
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Q18: Current income minus spending on current needs
Q19: Which of the following is an asset
Q20: Saving equals:
A)current spending minus current income.
B)wealth minus
Q22: Capital losses are:
A)decreases in the flow of
Q23: Mo's current income is $100 more per
Q24: Saving $100 will:
A)increase wealth by $100.
B)increase wealth
Q25: If Dylan saves $50 per week, then
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