Jacob's consumption increased by <u>$12,000</u>.
<h3>What is the marginal propensity to consume?</h3>
The marginal propensity to consume is defined as the proportion of an increase in income that a consumer consumes instead of saving.
<h3>Data and Calculations:</h3>
Amount of disposal income in 2019 = $30,000
Amount of consumption in 2019 = $20,000
Increased disposal income = $40,000
Marginal propensity to consume = 0.8
Increase in consumption = $12,000 ($40,000 x 0.8 - $20,000)
Thus, Jacob's consumption increased by <u>$12,000</u>.
Learn more about marginal propensity to consume at brainly.com/question/17930875
1. The need for gold and silver made it lucrative to carry out trade with other countries
2. Mercantilism - The economic policy that emphasized the need of every nation to build as much wealth as it can in order to gain power
3. Insurance companies became more formalized as risk mitigation started gaining priority. Laws were changed to deal with insurance issues
4. free trade policies. Governments became involved themselves in trade by grant royal trade monopolies.
You had three estates
1.Nobility
2. Clergy (Catholic Church)
3. everyone else
The clergy and nobility didn't have to pay taxes because they had the backing of the church. In theory all estates had the same job, but it was most always the clergy and nobility teaming up.
Amendments can and have been carried against the government.
An amendment is like a change in a document... for example the 10 amendments of the US. They are like additions to legal documents.
I’m pretty sure it’s principles of a new government :)
