Aggregate Supply and Demand Model

Aggregate Demand and Supply Models

ECO 372

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...