Follow graphs of US government spending from 1792-2014 to see how much information about the country can be conveyed in just a few numbers.
- I've got two graphs I want to show you.…- Oh, I love graphs, fire away.…- [Kay] Well, here's the first one.…This is a graph of the increase…in U.S. federal government spending…from 1792 up through 2014.…- Why 1792?…- Well, that's a good question.…I don't know.…George Washington started his first term in 1789,…but for some reason, the data series that I found…starts in 1792.…Maybe George paid for everything out of his own pocket…those first three years.…- Yeah, perhaps, okay, so let's look at the graph.…- Okay, here it is, now tell me what you think.…
- [Jim] It looks flat for about 150 years…and then it takes off into the stratosphere.…- [Kay] That's a pretty good description.…Starting in 1792, U.S. federal government spending…never reached as high as…$10 billion in one year until 1940.…That's not very much when compared with…the $3.5 trillion spent in 2014.…- Okay, you said there were two graphs.…Let's see the other one.…- [Kay] Okay, here it is.…This one is also a graph of U.S. federal government spending…from 1792 through 2014.…
In this course, join accounting professors Jim and Kay Stice as they help you discover how to leverage the power of numbers to approach businesses problems and make everyday decisions. They explore the power of ratios and percentages, how to monitor and evaluate your budget, how to forecast the timing and amount of a business loan, and much more.
- Explain the rule of 72.
- Determine net income based on wholesale and retail costs.
- Apply the appropriate methods to convert fractions to percentages.
- Define “consumer price index.”
- Identify the difference between mean and median.
- Recall how to calculate conditional and unconditional probability.
Skill Level Beginner
1. The Power of Ratios and Percentages
2. Applied Probability and Statistics
3. Numerical Planning and Measurement
4. Interest: Paying and Earning
5. The Art of Numerical Estimation
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