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Aggregate Sulpply and Demand Model

In: Business and Management

Submitted By grchybear
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Aggregate Demand and Supply Models
John Distel
ECO/372
12-10-2012
Ching Xu

Aggregate Demand and Supply Models
According to the United States Census bureau’s report, median income for a family household is down nearly 1.7%, from 2010 to 2011. That means for a family of four in 2010 they were living on approximately $63,331 per year. In 2011 that number went down to $62,274. This does not seem like much but this can be very hard on a family especially with the costs of everything continuing to go up, that $1100 has to be cut from somewhere in the families budget, because unlike the federal government they cannot just continue to borrow money all the time. In fact if a family borrows money to live on eventually this starts to eat into the family budget even more trying to pay back borrowed money. This report shows that the median income levels has been gradually going down like this for a consecutive four years now and are expected to continue the same trend on into 2012, according to the United States Census bureau.
These numbers can vary quite a bit depending on what type of a house hold that is being looked at. This report broke down the types of households, everything from sex of house holders, to race, age, even what geographical area the household was in. One difference that is different is the fact the men and women are the same; both have lost an average of 2.5%.

References
Denavas- Walt, C., Proctor, B. D., & Smith, J. C. (2012). Income, Poverty, and Health Insurance Coverage in the United States:2011. Retrieved from…...

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