Mostly because of the inexperience of the engineers who had been entrusted with the tasks as most of them were professional lawyers. the length of the canal also cast more shadow of doubt on the undertaking besides the lack of sophisticated equipment for the engineering works.
Answer and Explanation:
Given equation C = $600 billion +0.9Y
Where c = total consumer spending
$600 billion = consumer autonomous spendinf
0.9= marginal propensity to consume(mpc)
Y= income of consumers
A. Marginal propensity to consume(MPC)= 0.9 from equation given
B. Autonomous spending which is spending that is constant =$600 billion from equation given
C. Using equation of consumer spending above, C= $600 billion+0.9Y
With $4200 billion in income, consumers spending =$600 billion+0.9*$4200 billion
=$4380 billion
D. Savings= consumers income-consumers spending= $4200 billion-$4380 billion= -$180 billion
Therefore there was a deficit not saving
Answer:
This began the Middle Kingdom and a new period of stability, which lasted from 2055 to 1650 B.C.E. The Middle Kingdom has been labeled by historians as a the Golden Age due to the economic, social and political stability of the time period. Trading, arts and literature all flourished in the Middle Kingdom.
Explanation:
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