Which of the Following Statements Is False

question 211

Multiple Choice

Which of the following statements is false?

• A) The sooner you start an investment programme, the more time your investments have to work for you.
• B) A personal income statement lists your assets and liabilities.
• C) A budget is a specific plan for spending your income for a specific period of time.
• D) It is important to balance your budget so that your income is equal to the money you spend or invest each month.
• E) Unfortunately, many individuals spend more than they make.

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Definitions:

Supply Change

An alteration in the quantity of goods or services that producers are willing and able to sell in the market, due to factors like price, technology, or input costs.

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, evidencing economic benefit.

Costume Jewelry

Jewelry made from inexpensive materials and imitation gems, designed to provide an attractive appearance at a lower cost than jewelry made from precious metals and stones.