In this simple economic model with a closed economy there are three uses for GDP, (the goods and services it produces in a year). If Y is national income (GDP), then the three uses of C consumption, I investment, and G government purchases can be expressed as:National savings can be thought of as the amount of remaining money that is not consumed, or spent by government.ational savings should be split into private savings and public savings. A new term, T is taxes paid by consumers that goes directly to the government as shown here: (Y-T) is disposable income. (Y-T) less consumption (C) is private savings.
Canada is not part of the USA but Canada has border with the United States; however, Canada is a total different country with its own regulations.
North America is a well-defined entity culturally and socially. The United States and Canada are former British colonies, as a result of which they have similar traditions and culture. Canada is the 3rd largest country on the North American continent, after the United States and Mexico.Other countries in North America are Haiti, Grenada, Trinidad and Tobago, Antigua and Barbuda, etc. The continent also includes dozens of possessions and territories.orth America is the 3rd largest continent by area after Africa and Asia. There are many islands off the coasts of North America the Greater and Lesser Antilles, the Arctic Archipelago, the Alexander Archipelago, and others.