Keyword: income
Circular Flow (transcript) (11/18/2010)
The circular flow diagram captures the big picture of how different sectors of an economy are connected to one another by flows of money and goods.
Keywords: circular flow, closed economy, consumption, exports, factor markets, financial markets, firms, foreign economies, government purchases, households, imports, income, injection, investment, leakage, net taxes, open economy, product markets, saving
Glamour vs Hardship (6/22/2006)
Most glamorous jobs have high average income but low median income while most bread-and-butter jobs have median income that is very close to the average income.
Keywords: actress, average salary, coal miners, compensating differential, farm workers, glamour discount, hardship, income, income distribution, labor market, median salary, news anchor, truck drivers, union, wages
More Money, More Options (2/25/2000)
Fast foods are inferior goods that are used more when income is low. "Sit down" restaurant meals are normal goods that are consumed more when income is high.
Keywords: demand curve shift, fast food, income, inferior goods, normal goods, restaurant