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What Was the Most Prominent Cause for the Famine in the Early

question 10

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What was the most prominent cause for the famine in the early fourteenth century?


Definitions:

Permanent Income Hypothesis

A theory suggesting that people's consumption choices are based on their long-term average income rather than their current income.

Tax Cut

A reduction in the amount of taxes imposed by a government, aiming to stimulate economic growth or achieve other policy objectives.

Disposable Income

After income taxes are taken out, disposable income represents the funds available to a household or individual for saving and spending purposes.

APS

Average Propensity to Save, which is the fraction of total income that is saved by an economy or individual.

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