What is the primary difference between income and wealth as discussed in the introduction?
Understanding Wealth, Income, and Liquidity

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Business
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11th Grade - University
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Hard
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Both income and wealth are flows of money.
Income is a flow of money, while wealth is a stock of assets.
Income is a stock of assets, while wealth is a flow of money.
Both income and wealth are stocks of assets.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is income considered more liquid than wealth?
Income is generated from assets.
Income can be easily converted into cash and spent.
Wealth is always in cash form.
Wealth is generated annually.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of GDP in understanding economic activity?
GDP is a measure of liquidity.
GDP is the stock of assets owned by households.
GDP represents the flow of income over a period.
GDP measures the total wealth of a country.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which two components account for a large proportion of household wealth?
Property and pensions
Cash and stocks
Physical assets and financial assets
Income and savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main challenge with property and pensions in terms of liquidity?
They are always in cash form.
They are not easily converted into cash.
They have no value.
They are easily converted into cash.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is liquidity defined in the context of economics?
The total value of assets owned by a household.
The ease of converting an asset into cash without significant price impact.
The ability to generate income from assets.
The flow of money generated by economic activity.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of asset is considered highly liquid?
Instant access deposit account
Cars
Pensions
Property
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