In particular, the second equation separates national saving into two pieces: private saving (Y T C) and public saving (T G). Consider each of these two pieces: Private saving is the amount of income that households have left after paying their taxes and paying for their consumption. closed economy is an economy that does not interact with other economies. Y = C + I + G That was exactly what you stated In particular, a closed economy does not engage in international trade in goods and services, nor does it engage in international borrowing and lending.
A map of North America ca. 1566, one of the first to include the name Canada (top right). The name Canada is now generally accepted as originating from the St. Lawrence Iroquoian word kanata or canada, meaning village or settlement. Related translations include land or town, with subsequent terminologies meaning cluster of dwellings or collection of huts.
In Gaelic the meaning of the name Roy is: Red. Scottish Meaning: The name Roy is a Scottish baby name. In Scottish the meaning of the name Roy is: Red. French Meaning: The name Roy is a French baby name.