The field of questionnaires is comparatively new in statistics, and the theory covering it is far from completely developed. Indeed, it is doubtful that even the qualitative description and enumeration of its characteristics is complete. Here we merely point to its existence (as in many other cases treated in this book) and emphasize its enormous importance, especially for those large data collections connected with input-output studies of industry and business, determination of incomes, spending habits, etc.
Citizens decided to abandon their luxurious spending habits and military armaments. The result was a depression and collapse in trade and housing. His conclusion private vices of greed, avarice, and luxury lead to public benefits of abundant wealth, and the Moment Evil ceases, the Society must be spoiled, if not totally dissolved. Clearly, under Mandeville's infamous paradox, self-interest results in social benefit.
Budget deficits (spending exceeds revenues) boost total demand and output through a net injection into the circular flow of incomes. As with personal finances, a deficit on current spending may signal imprudence. However, a deficit to finance capital investment expenditure helps to lay the basis for future output and can be sustained so long as there are private or foreign savings willing to finance it in a non-inflationary way.
Do you remember Hurricane Katrina or the invasion of Iraq and the subsequent war How did these events-along with growing demand-affect gasoline prices Did the higher gasoline prices change the spending habits of you and your friends How and why Conduct a simple survey of your friends and family to find out how higher prices impacted their lives. Present the survey to your class. Read Chapter 15 to learn what the government might do to stabilize the economy.
Your Credit Score Like your shadow, your credit score, or credit rating, follows you throughout your life. It's a number from 300 to 900 that shows how responsible you've been with your finances recently and in the past. The higher your score is, the more likely you are to get credit and a low interest rate.
Sources and notes Series 1, unknown commodity sample from Sidorov (1960 147). Series 2 and 3 from Trudy TsSU (1926), vypusk 3 6-49) series 2 raw material inputs to timber, foodstuffs, mineral, leather, and textiles branches of industry, series 3 raw material inputs to other branches of industry, from 1918 industrial census. Series 4 from Kokhn (1926 20) (thirteen export items listed by Prokopovich). Series 5 Gosplan figures from Kokhn (1926 20) thirteen food items, quoted on exchanges, 1924-5 wholesale trade weights. Series 6 from Kokhn (1926 160-1), basket of sixteen food items, nine items of clothing and footwear, four miscellaneous, including soap, fuel, and housing costs, weighted according to working-class household budget in 1918. Series 7, Gosplan index for Moscow city, from Trudy TsSU (1926, vypusk 1 11). Sources and notes Series 1, unknown commodity sample from Sidorov (1960 147). Series 2 and 3 from Trudy TsSU (1926), vypusk 3 6-49) series 2 raw material inputs to timber,...
(b) An understanding of basic economic issues and principles is essential for a well-informed and responsible citizen. Our newspapers and news programs are filled with information about unemployment, inflation, price controls, taxes, energy, imports, monopoly power of large corporations, and other problems. Without some knowledge of economics, it is practically impossible to understand the issues involved and form sensible opinions on these important matters. Economics can also help individuals to operate their businesses and control their personal finances by providing a basis for understanding how to protect or reduce the impact of inflation, how tax reforms and energy conservation programs affect them, and so on.
Nature of the Problem Very often the nature of the problem under consideration suggests whether heteroscedasticity is likely to be encountered. For example, following the pioneering work of Prais and Houthakker on family budget studies, where they found that the residual variance around the regression of consumption on income increased with income, one now generally assumes that in similar surveys one can expect unequal variances among the disturbances.9 As a matter of fact, in cross-sectional data involving heterogeneous units, heteroscedasticity may be the rule rather than the exception. Thus, in a cross-sectional analysis involving the investment expenditure in relation to sales, rate of interest, etc., het-eroscedasticity is generally expected if small-, medium-, and large-size firms are sampled together. 9S. J. Prais and H. S. Houthakker, The Analysis of Family Budgets, Cambridge University Press, New York, 1955.
The problem with weighted averages is that weights usually need revising from time to time. With the consumer prices index, spending habits change because of variations in relative cost, quality, availability, and so on. One way to proceed is to calculate a new set of current weights at regular intervals, and use these to derive a single long-term index. This is known as a current-weighted index, or occasionally a Paasche index, again after its founder. The following is an example of a current-weighted price index for single-person household consumption of wine and cheese each week.
How did Bank of America come up with such a new idea in an industry not known for innovation In early 2004, the bank hired researchers to study people's banking and spending habits. They found that some people rounded up their payments to make balancing their checkbooks easier and quicker. They also saw purchasing behaviors that reinforced the stereotype that Americans are big spenders but not big savers.
The Bureau of Labor Statistics spends millions of dollars gathering data to ensure that its measure of inflation is accurate. To determine the market basket of the typical consumer every 10 years or so, the BLS randomly selects thousands of households and analyzes their spending habits. In the last household survey completed in 1993-95 each of about 15,000 families kept diaries of their purchases for two weeks.
Sympathetic historians have always noted the poor conditions under which Marx lived, but during most of his life it was not for lack of money. Historian Gary North investigated Marx's income and spending habits, and concluded that except for his self-imposed poverty of 1848-63, Marx begged, borrowed, inherited, and spent lavishly. In 1868, Engels offered to pay off all the Marxes' debts and provide Marx with an annuity of 350 a year, a remarkable sum at the time. North concludes He was poor during only fifteen years of his sixty-five-year career, in large part due to his unwillingness to use his doctorate and go out to get a job. . . . The philosopher-economist of class revolution the 'Red Doctor of Soho' who spent only six years in that run-down neighborhood was one of England's wealthier citizens during the last two decades of his life. But he could not make
Get All The Support And Guidance You Need To Permanently Get Your Budgeting Under Control. This Book Is One Of The Most Valuable Resources In The World When It Comes To Ways To Learn How To Better Your Finances By Budgeting! Most people are weary of budgeting due to the wrong perception that budgeting would mean having to stop spending on non essentials and concentrating only on essentials.