When Examining the Financial Status of Households, Wealth Is

question 244

Multiple Choice

When examining the financial status of households, wealth is

• A) synonymous with income.
• B) a flow variable whereas income is a stock variable.
• C) a stock variable and includes both tangible assets and human capital.
• D) not as important as income because wealth does not change over time.

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Definitions:

Foreign Corrupt Practices Act

A U.S. law that prohibits American companies and their subsidiaries from bribing foreign officials to retain or obtain business.

Fines

Monetary penalties imposed as punishment for breaking laws or regulations.

Domestic Concern

Matters or businesses pertaining to the internal affairs or operations of a specific country.

UN Commission on International Trade Law

A legal body established by the United Nations to promote the harmonization and unification of international trade law.