A political scandal in the United States that occurred during the second term of the Reagan Administration.
Senior administration officials secretly facilitated the sale of arms to Iran, which was the subject of an arms embargo.
They hoped, thereby, to fund the Contras in Nicaragua while at the same time negotiating the release of several U.S. hostages.
Under the Boland Amendment, further funding of the Contras by the government had been prohibited by Congress.
The president, at that date, was John F. Kennedy.
An important modern-day protest movement in 2021 is the new uprising in support of Black Lives Matter. This movement was founded nearly a decade ago but only in 2020 with the murder of George Floyd did the movement really pick up speed. Protests erupted throughout the country and more awareness was brought to this social injustice. Now, with many supporters, laws are being passed to help lower the amount of police brutality cases, and help African Americans feel more safe in the United States.
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
