Textbook Notes (369,072)
Canada (162,367)
York University (12,903)
Economics (1,011)
ECON 1010 (256)
Xueda Song (10)
Chapter 8

Chapter 8 econ 1010 notes.docx

7 Pages
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Department
Economics
Course Code
ECON 1010
Professor
Xueda Song

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Description
Financial InstitutionsThe financial system the group of institutions that helps match the saving of one person with the investment of another Financial markets institutions through which savers can directly provide funds to borrowersExamplesThe Bond MarketA bond is a certificate of indebtednessThe Stock MarketA stock is a claim to partial ownership in a firm Financial intermediariesinstitutions through which savers can indirectly provide funds to borrowersExamplesBanksMutual fundsinstitutions that sell shares to the public and use the proceeds to buy portfolios of stocks and bondsSaving and Investment in the National Income AccountsRecall that GDP is both total income in an economy and total expenditure on the economys output of goods and servicesYCIGNXIn a closed economy YCIGDifferent Kinds of SavingPrivate saving The portion of households income that is not used for consumption or paying taxes YT net transfer of paymentsCPublic saving Tax revenue less government spending TGNational saving private savingpublic saving YTCTG
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