In national income accounting, aggregate saving in any year is defined as?

Assessment: JAMB UTME - Economics - 1992 Subject: Economics

Question 1 Report

In national income accounting, aggregate saving in any year is defined as?
Answer Details
Aggregate saving in national income accounting is defined as all disposable income not spent on consumption. In simpler terms, it is the amount of money that individuals and households save instead of spending on goods and services. This includes income that is saved in bank accounts, investment accounts, or any other financial instrument that is not spent on consumption. Saving is an important economic indicator because it contributes to investment, which can stimulate economic growth.
Read lesson note on National Income (WAEC)
Read lesson note on Public Finance (WAEC)
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