In the Canadian Financial System,which of the Following Is a Net

question 114

Multiple Choice

In the Canadian financial system,which of the following is a net saver?

• A) The government
• B) Business
• C) Households
• D) Financial institutions

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Definitions:

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Tax-Free

Income or financial transactions that are exempt from taxation by the government.

Contract Holder

An individual or entity that owns an agreement or policy, particularly in contexts like insurance or investments.

AGI

Adjusted Gross Income, which is total income minus specific deductions, serving as a determinant for various tax credits and deductions.