Everyone except for the super wealthy has a finite, or limited, amount of income.

BlackTom题目解析

Question

Everyone except for the super wealthy has a finite, or limited, amount of income.

BlackTom题目解析

BlackTom AI · Accepted Answer

Consider the claim presented: 'Everyone except for the super wealthy has a finite, or limited, amount of income.'
Option 1: True. This statement asserts that all people except the super wealthy have finite income, implying that the super wealthy might have infinite income or that only they do not. In economic reality, no individual has infinite income; even the wealthiest individuals have a finite stream of earnings, investments, or wealth-based income in any given period. Therefore, labeling the majority as finite while singling out the super wealthy as an exception introduces a false dichotomy. The statement mischaracterizes income as potentially unbounded for some, which is not accurate in standard economic terms.
Option 2: False. This option correctly challenges the claim by noting that income, for everyone, is typically finite within a given period (e.g., a year), including the super wealthy whose income streams are finite despite being large. In economics, there is no category of people who inherently possess infinite income; even high-net-worth individuals face finite actual cash flows and earnings over time. The phrasing of the original statement wrongly suggests a special case for the super wealthy, which is not supported by how income is defined and measured. Additionally, the concept of “finite income” applies to all individuals during a specified interval, regardless of overall wealth, reinforcing why this statement is incorrect.

Everyone except for the super wealthy has a finite, or limited, amount of income. BlackTom题目解析

查看解析

登录即可查看完整答案

类似问题

When a society cannot produce all the resources that people wish to have, it is called:

The basic reason why choices matter is that

Dan is deciding whether to pay $200 for a sweater or wait 2 months for the sweater to go on a 50% off sale. An economist would reason that:Time is a scarce resource. The scarcity principle does not apply. The sweater is a scarce resource. Which statement is true:

12. Scarcity is a situation in which:

Question at position 24 True or False: The value of diamonds comes from their scarcityFalseTrue

The principle of scarcity arises due to:

The problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.) BlackTom题目解析

Which of the following is a result of having scarce economic resources for the production of goods and services? BlackTom题目解析

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单