Households

In a circular flow model, households are the source of consumption expenditures and land, labor and capital for businesses. Econlife looks at all of the activities of households that include spending, taxes, education, health care and income.

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    Luxury or Necessity?

    Jan 12, 11 • 219 Views • 1 Comment

    Can you live without your TV? Cell phone? Dishwasher? A Pew Research survey discovered that your answer in 2006 might have been different from now. Cars were at the top with 88% of all respondents saying they needed one. But still, the number was 3% less than...  [read more]

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    Mothers and Human Capital

    Jan 10, 11 • 224 Views • No Comments

    In The Wall Street Journal, a Chinese mother discusses her rules for her children which include: 1) only A’s, 2) no play dates, 3) no parts in school plays, 4) no TV,  5) no sleepovers, 6) play the piano or violin for several hours daily....  [read more]

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    Austerity and Harry Truman

    Dec 31, 10 • 274 Views • No Comments

    What are people saying about austerity, the 2010 word of the year? According to Dr. Econ at the San Francisco Federal Reserve, households are demonstrating austerity by saving more and borrowing less. On the one hand, living within our means is good. But on...  [read more]

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    The Cost of a Family

    Dec 23, 10 • 211 Views • No Comments

    The cost of having a family has gone up and it has gone down. In its annual report on the average cost of raising a child in a middle income family, the Department of Agriculture said from 2008 to 2009, the amount has risen by 1%. A child born during 2009 is...  [read more]

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    A Price Story

    Dec 22, 10 • 275 Views • No Comments

    Do you think that the BPP is more accurate than the CPI? Based at MIT, The Billion Prices Project (BPP) monitors close to 5 million items sold by approximately 300 retailers in 70 countries. Using the BPP, we can choose a country and then see, on a daily...  [read more]