If You Decide Not to Spend $1,000 You Earned at Your

question 152

Multiple Choice

If you decide not to spend $1,000 you earned at your summer job but instead intend to buy shares in a mutual fund, in terms of aggregate economic accounting you would be:

• A)consuming.
• B)saving.
• C)investing.
• D)transferring.

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Definitions:

Legal Capacity

The ability of an individual or entity to enter into legally binding contracts and obligations.

High School Education

A secondary school program typically completed between the ages of 14 and 18, preparing students for higher education or vocational training.

Mental Deficiencies

A term describing limitations in cognitive functioning and behavioral abilities, ranging from mild to severe, that can affect an individual's day-to-day life and learning.

Adjudicated Insane

A legal determination made by a court that an individual lacks the mental capacity to manage their own affairs or to understand the nature of a criminal act.