Crops produced entirely for the market are known as

Distinguishing among money, income, and wealth

A. A person's money is the currency held and the checking account balance, income is the earning and wealth is equal to the value of assets minus all debts B. A person's money is the currency held and the earnings from work, income is equal to the bank balance and wealth is equal to the profit from investment C. A person's money is the currency in the pocket, income is the earning and wealth is equal to asset value

Financial capital by itself is not a factor of production; instead it is only a paper claim on economic capital

a. True b. False Indicate whether the statement is true or false