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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    Understanding the Jobs Report

    Jul 9, 11 • 508 Views • No Comments

    Hearing yesterday’s jobs report, most people said, “No good news.” Lower wages, almost no hiring, less time on the job and 9.2% unemployment meant more worries about the economy. These facts might provide some insight. The output gap:......  [read more]

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    Green Signals

    Jul 8, 11 • 544 Views • No Comments

    When “green” is valued, hybrid car sales will be high. But here is the interesting part. When green is valued, looking “green” sometimes can be more important than being “green.” As a result, people buy more Priuses than......  [read more]

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    A Mongolian Cosmo?

    Jul 5, 11 • 547 Views • No Comments

    Selling for 7,000 tugriks, the Mongolian edition of Cosmopolitan has arrived in Ulan Bator.  Stephen Colbert tells us that, “With their Cosmopolitan subscriptions, Mongolian women get half off the newsstand price, plus a free goat bladder......  [read more]

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    Are the Rich Getting Richer?

    Jun 30, 11 • 426 Views • No Comments

    Their conclusion was clear. A recent Federal Reserve study tells us that the rich are getting richer. A closer look, though, reveals it is a lot more complicated. We need to be aware of two issues. How should we define income and wealth? Calculating income,......  [read more]

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    How Much is $250,000?

    Jun 29, 11 • 489 Views • No Comments

    Told that someone earns $250,000 a year, you should ask, “Where do you live?” According to CNN, you would need to earn $545,000 in Manhattan to spend what $250,000 will buy in Missoula, Montana. On this map, you can see how your cost of living......  [read more]