Describe the relation of money with wealth and incomeit is, Ask an Expert

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Describe the relation of money with wealth and income

It is very possible to have a high income but no money and no wealth, or to be very wealthy and have a lot of money but no income. This is another distinction to be careful with. Do not say that "Sam makes a lot of money" if you mean that Sam has a high income. Money has a very precise definition in economics!

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9582391

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