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11 Cards in this Set
- Front
- Back
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National income and product accounts / national accounts:
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keep track of the flows of money between different sectors of the economy
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Consumer spending:
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: household spending on goods and services
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Stock:
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a share in the ownership of a company held by a shareholder
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Bond:
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borrowing in the form of an IOU that pays interest
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Government transfers:
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payments by the government to individuals for which no good or service is provided in return
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Disposable income:
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: equal to income plus government transfers minus taxes, is the total amount of household income available to spend on consumption and to save
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Private savings:
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: is equal to disposable income minus consumer spending is disposable income that is not spent on consumption
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Financial markets:
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are the banking, stock and bond markets, which channel private savings and foreign lending into investment spending, government borrowing and foreign borrowing
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Government borrowing:
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the amount of funds borrowed by the government in the financial markets
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Exports:
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goods and services sold to residents of other countries
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Imports:
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goods and services purchased from residents of other countries
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