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Which of the following is NOT a characteristic of income? a.         It refers to the flow...

Which of the following is NOT a characteristic of income?

a.         It refers to the flow of money earned by an individual during a period of time.

b.         It depends on some factors that an individual can control.

c.         It refers to the current stock of money that an individual can control.

d.         It depends on some factors outside of an individual’s control.

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Answer #1

Income is earned by an individual during a given period of time. Income depends on some factors that an individual can control, for example, quality of work, the effort of an individual etc. Income also depends on some outside factors that an individual can not control, for example, governments policy like minimum wage.

But the stock of money cannot be controlled by income by an individual, it can only be controlled by the central bank.

Therefore correct answer is option C.

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