Examlex
Summarize Jean Piaget's views on cognitive development.
National Saving
The total amount of savings in a country, which is comprised of both private savings by households and the savings of the government, representing the difference between a nation’s income and consumption.
Open Economy
An economy that allows for trading and financial transactions with other countries.
Investment
Refers to the purchase of goods that are not consumed today but are used in the future to create wealth, such as purchasing machinery for a factory.
Net Capital Outflow
The difference between domestic residents’ investments abroad and foreigners’ investments in the domestic economy.
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