Wealth:
A. is a flow concept.
B. refers to accumulated financial assets only.
C. refers to accumulated real assets only.
D. refers to accumulated financial and real assets.
Answer: D
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Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender
a. True b. False Indicate whether the statement is true or false
As someone's income rises, eventually their
A. income effect will outweigh their substitution effect. B. substitution effect will outweigh their income effect. C. their substitution and income effects will attain permanent equality.
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a. True b. False Indicate whether the statement is true or false