The numbers in the second column of the table are the Federal Reserve€™s estimates of personal wealth at the end of each year. The numbers in the third column are the Bureau of Economic Analysis€™s estimates of personal saving each year. In which years did the change in wealth exceed saving? In which years did saving exceed the change in wealth? Given the definitions of saving and wealth, how can the change in wealth differ from saving?

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Saving (billions of dollars) Wealth (billions of dollars) 63,544 Year 2011 785 2012 69,598 79,383 1,000 2013 662 2014 84,201 690