$8,000 $800 QUESTION 19 Which of the following statements is NOT correct? Nation

Question

$8,000 $800 QUESTION 19 Which of the following statements is NOT correct? National income should be equal to the country's money supply. A person's income is equal to his or her earnings during the year. A person's money is equal to what he or she has in currency and in checking accounts. A person's wealth is equal to the value of their assets minus the value of any debts. QUESTION 20 Suppose Khalid deposits $20 million into his checking account at Dubai Commercial Bank. I supply? $180 million $2 million -$200 million

Explanation / Answer

Due to various reasons like black marketing, corruption and counter fieting of currency, national income should not be equal to the country's money supply because these activities are not included in national income.

So, correct option is A.

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