It is impossible to have an increase in income without having an increase in wealth.

Question

Quizplus · Accepted Answer

Income and wealth are not the same thing. Income refers to the amount of money someone earns from work or investments, while wealth is the total value of someone's assets (including property, investments, savings, etc.) minus any debts or liabilities. It is possible to have an increase in income (such as through a raise or a new job with a higher salary) without necessarily increasing one's overall wealth (if the additional income is spent on expenses or does not result in any savings or investments). Similarly, one can increase their wealth without necessarily increasing their income (such as through smart investments or inheritance).

It Is Impossible to Have an Increase in Income Without