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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    Dietary Incentives

    Nov 27, 10 • 283 Views • No Comments

    Which would you choose? 2000 calories from 10 donuts that would cost you $5? or… 2000 calories from Greek yogurt, organic raspberries, a turkey avocado wrap, Alaskan King Salmon, green beans, a whole wheat roll, strawberries and heavy cream for $25.86?...  [read more]

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    Demand, Supply, and College Admissions

    Nov 19, 10 • 357 Views • No Comments

    You might pay $1.50 to get a cup of coffee or $30 for a blouse. But what do students “pay” to get admitted to a college? And, at what “prices” will colleges accept people?  Several researchers developed a supply and demand model...  [read more]

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    Demand, Supply, and Knee Replacement

    Nov 15, 10 • 323 Views • No Comments

    Hearing about knee replacement surgery from a friend, I soon realized it is about much more than an operation. It involves demand, supply, innovation, and the quality and cost of national medical care. First the facts: For knee replacement surgery, patients...  [read more]

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    A Big VAT

    Nov 14, 10 • 313 Views • No Comments

    Dating back to the 18th century, the Chinese vase that a brother and sister found “in a dusty attic” sold for $69.5 million at a London auction. The NY Times called it a “treasure-in-the-attic” story. For us economists, it is a VAT...  [read more]

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    QE2: Pros and Cons

    Nov 8, 10 • 561 Views • No Comments

    Reminding us that there is no such thing as a free lunch, The Washington Post has an excellent interactive summary of the pros and cons of a QE2 impact. But first…what is QE2? Through a second round of quantitative easing, the Federal Reserve will...  [read more]