Jay owns a classic car he purchased for $50,000. At a car rally he is offered $75,000 for the car by a knowledgeable classic car enthusiast. 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
Q24: Saving $100 will:
A)increase wealth by $100.
B)increase wealth
Q27: Saving is a(n)_ and wealth is a(n)_.
A)stock;
Q29: The stock of wealth increases more rapidly
Q31: Elaine owns a beautiful diamond ring she
Q38: Capital gains are _, and capital losses
Q39: Which of the following is a stock?
A)Saving
B)Income
C)Consumption
D)Wealth
Q51: Steve takes $500 from his paycheck and
Q56: If Alex uses $800 from her checking
Q95: If net taxes paid by households increase:
A)private
Q100: Which of the following is correct?
A)National saving
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