Right or Wrong?
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Can you tell me which of these is wrong? And for the wrong statements, please provide explanation on what you think should be the correct one.
1. Saving hurts the economy.
2. Consumer spending stimulates economic growth.
3. Top 10% of Americans own 90% of American wealth.
4. Big businesses are the greatest savers by cutting costs through labor replacement with technological investment.
5. Labor replacement (or lay-offs) creates unemployment and underemployment.
6. Investment in technological advancement increases productivity.
7. Unemployment and underemployment reduce the market's overall purchasing power.
8. Increasing productivity with decreasing purchasing power will result in overproduction.
9. The problem of overproductivity can be solved through consumer credit (to stimulate spending) and export to foreign markets.
10. The net income of the general population (mostly poor and middle income group) after 30 years are more or less the same, after considering inflation rate.
11. Having a Ferrari is a value, for example.
12. Just because we have the money to buy a Ferrari doesn't mean we already have the value.
13. Money can't substitute wealth and value as wealth and value itself.
14. Money is merely a medium of exchange.
15. Money accumulation merely withold value creation.
16. Money should be equally distributed and circulated to create consistent value to everyone.
Right or Wrong?Money is merely a medium of exchange- wrong statemnet. be cause money has other functions. it is a store of value since you can use it ti make purchases in the future. it also serves as a unit of of account, a standard of deffered payment.
Right or Wrong?lemme guess, you waited until the LAST moment to do your homework? lol....
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