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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    Shrinking Packages

    Feb 17, 11 • 371 Views • 2 Comments

    Have you noticed that the 64-ounce Tropicana Orange Juice container now holds 59 ounces of juice? Or, that Scott Toilet Tissue is 104.8 sq. ft. instead of 115.2 sq. ft.? Other shrinking packages include… The 24-slice package of Kraft American Cheese has...  [read more]

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    U.S. Affluence

    Feb 16, 11 • 314 Views • No Comments

    How rich is the U.S.? Economist Branco Milanovic, in The Haves and the Have-Nots, gives us a really interesting answer. The poorest people in the U.S. are richer than most of the higher income individuals in other countries. Specifically, the poorest 5% of...  [read more]

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    The Right Stuff

    Feb 10, 11 • 334 Views • No Comments

    Giving a grade of “One Pinocchio,” the Washington Post assessed the accuracy of President Obama’s February 7, 2011 speech to the U.S. Chamber of Commerce. Most interesting, though, were the topics on which he focused. Yes, President Obama...  [read more]

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    Unemployment Questions

    Feb 6, 11 • 287 Views • No Comments

    Friday’s employment report had good news and bad news. There was considerably less unemployment and considerably less job creation. Moving from 9.4% to 9%, the unemployment rate decreased more than most people expected. However, the job creation number,...  [read more]

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    What’s Cooking?

    Feb 4, 11 • 281 Views • No Comments

    The kitchen that my mother used 50 years ago is really not that different from the one we use today. Electricity, a mechanical refrigerator, and hot and cold running water have been here for a long time. But 60 years before that, the kitchen was a very...  [read more]