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JAMB Economics 1992 Question 43

Question 43

National Income

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

  1. A.all disposable income not spent on consumption
  2. B.all savings deposits in all banks during the year
  3. C.all savings and time deposits in all banks during the year
  4. D.the value of inventory change for the year
Show the answer and explanation

Answer: A (all disposable income not spent on consumption)

Explanation

Saving is the part of disposable income not spent on consumption, wherever it is kept.