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LEGAL TYPES: The three primary types of legal firm organizations are: (1) proprietorship, (2) partnership, and (3) corporation. One primary difference between these three legal types are number of owners -- proprietorship has one, partnership has two or more (but usually a small number), and corporation can have anywhere from one or to millions. A second difference is the liability of the owners -- proprietorship and partnership owners have unlimited liability and corporation owners have limited liability. Three newer firm types include (1) limited partnership, (2) S corporation, and (3) limited liability company. Each of these three are hybrids, with characteristics of proprietorship, partnership, corporation.
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                           CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS: An index of prices of goods and services typically purchased by urban wage earners and clerical workers. This carries the official abbreviation CPI-W to distinguish it from its more famous sister index CPI-U, which is the standard Consumer Price Index for All Urban Workers, (commonly abbreviated simply as CPI). Like the standard CPI, the CPI-W is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-W is a continuation of the original CPI developed early in the 1900s to provide cost-of-living adjustment information to wage-earning workers (which is why the Bureau of LABOR Statistics oversees consumer PRICE indexes). Because the original CPI (now CPI-W) was based on goods and services purchased by wage-earning workers, it was replaced by the newer CPI-U in 1978 to provide a broader, more comprehensive measure of the economy's price level. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80 percent of the non-institutionalized population while the older CPI-W includes about only 32 percent.While the CPI-U is the broader, and presumably more accurate, measure of the macroeconomy's price level, the CPI-W is not a bad measure. The two indexes do tend to move in tandem. For example, the more comprehensive CPI-U for December 2003 is 184.3 while the narrower CPI-W has a value of 179.9. Over two decades (from the 1982-84 base period to 2003), the two indexes differed by only 4.4 index points (or 2.5 percent); not perfect, but not too bad, either.
Recommended Citation:CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 29, 2024].
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Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for a thesaurus filled with typos.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Something in human nature causes us to start slacking off at our moment of greatest accomplishment. As you become successful, you will need a great deal of self-discipline not to lose your sense of balance, humility and commitment." -- H. Ross Perot
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DTI
Department of Trade and Industry (UK)
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