Which of the Following Statements Is True About Income and Wealth

question 17

Multiple Choice

Which of the following statements is true about income and wealth?

• A) Income is a flow measure and wealth is a stock measure.
• B) Income is a stock measure and wealth is a flow measure.
• C) Both income and wealth are flow measures.
• D) Both income and wealth are stock measures.

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Definitions:

Disjunction

The logical inclusionary operation indicating that if one or more of several propositions is true, the overall statement is true; emphasizes a different aspect of combining statements.

Biconditional

A logical statement where both parts imply each other; often phrased as "if and only if."

Component

A constituent part or element of a larger whole.

Contradictory

Referring to statements or propositions that directly oppose each other such that if one is true, the other must be false.