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CH 7 Key Terms

CH 7 Key Terms - Key Terms :,salesof...

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Key Terms national income and product accounts:  method of calculating and keeping track of  consumer spending , sales of  producers, business  investment spending , government purchases, and a variety of other flows of money between  different sectors of the  economy ; also referred to as  national accounts . consumer spending:   household  spending on goods and services from domestic and foreign firms . stock:  a share in the ownership of a company held by a shareholder. bond:  a legal document based on borrowing in the form of an IOU that pays interest. government transfers:  payments by the government to individuals for which no good or service is provided in return. disposable income:  income plus  government transfers  minus taxes; the total amount of household  income available  to spend on consumption and saving. private savings:   disposable income  minus consumer spending ; disposable income that is not spent on consumption  but rather goes into financial markets . financial markets:  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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