...funding to maintain and build new roads, this is where the issue of federalism arrives. Working with the federal, state and local government there has to be a solution to the transportation policy. The Transportation Policy as we know it today started as the Interstate program according to Shirayanagi, H., & Kitamura, Y. (2011) “in 1956 also called the 1956 Federal-Aid Highway Act, appropriated $25 billion (about $197 billion in 2009 dollars) to build 41,000 miles of multi-lane, limited access highways.” (p.253) While it was done to connect states and make it easier for economic center to connect it helped develop travel within cities themselves. These highways were built with 90 percent federal funding the only problem was that the local government did not get any money to improve the transportation systems. Fast-forward to August 2005 according to Shirayanagi, H., & Kitamura, Y. (2011) “ the Safe, Accountable, Flexible, Efficient Transportation Equity Act: (SAFETEA-LU) which is our current transportation policy signed by President George W. Bush, authorized $286.5 billion dollars to fund our nation’s transportation network through September 2009…” (p.257) The bill expired on September 30, 2009 and has been extended multiple times since that date. The main reason Congress cannot come up with a new policy because first and for most the federal government does not want to fund state and local projects without any help from that state,...
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...Zizmat had election business. He won a govt. construct where he was the low bidder. In order to implement this contract he needed sufficient fund for collecting this fund he considered different alternatives such as federal Agency, commercial bank and other financial institutions. During the evaluation process he found that the federal Agency claimed a consulting fee of 5% on the loan amount. However this consulting fee would go to political hack. A further point was that the market interest rate was 2% more than the change of Federal Agency. And Sam might not be able to meet the payment as their change was so much high. The federal Agency was the sole source for Sam’s funding and existing consulting firm must be considered due to time constraint. Finally Sam had three options for choosing the best one , i.e., pay the “ consulting fee” refuse to pay the fee and offer a smaller fee. Question -1: Has Sam considered all the possible options? If not, what others are? Answer: Yes, Sam has considered all the possible options. Those options are as follows: Financial institution 1) Commercial bank and other financial institution’s loan: The loan package offered by this institution is more costly than Federal agency loan by 2%. So it is not possible to Sam to bear this cost. 2) Federal Agency: Federal Agency provides a loan which is 2% lower than other options although it have 5% consultancy fee. For low cost Sam select this loan. But in...
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...and even to the way we make a living, we cannot escape the importance of currency. Without it every economy in this world may just fall apart. In this article analysis we will look at the various functions of money, the Federal Reserve and its role in the United States (U.S.) money supply, as well as the evolution of bitcoins and its future or nonexistent future in the U.S. Economy. Money serves as three functions: medium of exchange, a store of value, and a unit of account. The most important function of money is a medium of exchange to facilitate transactions. Without money, transactions would have to use the barter system. The Barter System is the act of obtaining a good or service of equal value in exchange for a desired good or service. A store of value is a medium of exchange that must hold its value for a period of time such as land or art for example. Money is more liquid than the average store of value, due to it being accepted everywhere, in various denominations. Lastly, as a unit of account, money provides a common measure of value of goods and services being exchanged. The supplier and the purchaser of goods make decisions on how much to supply and how much to purchase by knowing the value or price of a good. [1] The two objectives of the Federal Reserve in managing the U.S. Money supply are price stability and full employment. Price stability is the situation whereby the price of goods and services offered in the marketplace either change very slowly or do not...
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...and even to the way we make a living, we cannot escape the importance of currency. Without it every economy in this world may just fall apart. In this article analysis we will look at the various functions of money, the Federal Reserve and its role in the United States (U.S.) money supply, as well as the evolution of bitcoins and its future or nonexistent future in the U.S. Economy. Money serves as three functions: medium of exchange, a store of value, and a unit of account. The most important function of money is a medium of exchange to facilitate transactions. Without money, transactions would have to use the barter system. The Barter System is the act of obtaining a good or service of equal value in exchange for a desired good or service. A store of value is a medium of exchange that must hold its value for a period of time such as land or art for example. Money is more liquid than the average store of value, due to it being accepted everywhere, in various denominations. Lastly, as a unit of account, money provides a common measure of value of goods and services being exchanged. The supplier and the purchaser of goods make decisions on how much to supply and how much to purchase by knowing the value or price of a good. [1] The two objectives of the Federal Reserve in managing the U.S. Money supply are price stability and full employment. Price stability is the situation whereby the price of goods and services offered in the marketplace either change very slowly or do not...
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...organizations. Nowadays, it is common for Blues and commercials to own and operate HMOs and other managed care plans. Social Health Insurance has two major mandatory social health insurance programs: (1) Workers’ Compensation for the costs and pain of suffering job-related accidents, and (2) Medicare for the elderly, disabled, and other special groups. Several states sponsor social insurance programs in the areas of temporary disability (California) or health insurance (Hawaii and Vermont). Workers’ Compensation provides two basic benefits: (1) cash replacement of a portion of wages lost due to disability and (2) payment for all or part of the medical care necessary. Welfare Medicine is a public assistance that is sponsored by a plethora of federal, state, and local government programs, but the most far-reaching program is Medicaid (Title XIX of the Social Security Act). The distinction between welfare medicine and social health insurance, both of which are public programs, is an important one and rests on the philosophical difference between a transfer payment and entitlement (Williams & Torrens, pgs. 82-86, 2008). 2) Describe the three methods for categorizing health insurance in the U.S. According to our book, the three methods of categorizing health insurance in the U.S....
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...to his first veto. A directive that banned federal funding for any more research into stem cell lines created after that date (August 9, 2001). In 2009, President Barack Obama ended the stem cell ban. Obama said his decision was a “difficult and delicate balance”. He said he wanted to side with the majority of Americans, who did support federal funding for this research. (“Obama reverses Bush-era stem cell policy.” 1) The benefits of this research can lead to new, more effective treatments for human ailments. Stem cell therapy has alleviated the suffering of thousands of people. Unused stem cells are being discarded instead of being used for research. (“Frequently asked questions.” 3) Stem cells are quite resourceful. They can easily be taken from our own bodies and stored just like blood. During radiation or chemotherapy, white and red blood cells can get damaged. These affected cells can easily be replaced with healthy stem cells that adapt. (Pros and cons of stem cell research, 1)The biggest debate about this topic isn’t about whether stem cells work, but who’s going to pay for the research. It’s not a matter of pro-life or pro-choice, it’s pro-science. If my family had the finances for stem cell therapy, we would have made sure that my grandmother was in as little as pain as possible when she was diagnosed with myeloma. No matter what type of injury or disease, cells can easily be replaced with healthy stem cells. (Pros and cons of stem cell research, 1) Stem cells are their...
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...Money, Banking and Monetary Policy Lashawn Lyles Principles of Economics Devry University Professor William Cheng April 14, 2013 The United States is the leading economy of the world however we have been in a recession since 2008. Last year, unemployment was at a record high. Today the labor market is gradually improving. Payroll employment has increased by 175,000 jobs per month on average, and the unemployment rate declined 0.3 percentage point to 7.9 percent over the same period. Cumulatively, private-sector payrolls have now grown by about 6.1 million jobs since their low point in early 2010, and the unemployment rate has fallen a bit more than 2 percentage points since its cyclical peak in late 2009. In spite of these gains, however, the job market remains generally weak, with the unemployment rate well above its longer-run normal level. About 4.7 million of the unemployed have been without a job for six months or more, and millions more would like full-time employment but are only able to find part-time jobs. High unemployment has substantial costs, including not only the hardship faced by the unemployed and their families, but also the harm done to the vitality and productive potential of our economy as a whole. The loss of output and earnings associated with high unemployment also reduces government revenues and increases spending, thereby leading to larger deficits and higher levels of debt. The problem started...
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...PTER 16 Tools of Monetary Policy Roadmap 2 Market for reserves and federal funds rate Demand and Supply (Partial) Equilibrium Comparative Static Analysis Introduction to monetary policy tools Conventional tools Unconventional tools Hyung Sun Choi, Kyung Hee University Market For Reserves & Federal Funds Rate 3 Demand and Supply in the Market for Reserves What happens to the quantity of reserves demanded by banks, holding everything else constant, as the federal funds rate changes? Fed Funds Rate: the interest rate on overnight loans of reserves from one bank to another. The primary instrument of monetary policy Hyung Sun Choi, Kyung Hee University Demand for Reserves, 4 d R Rd = required reserves + excess reserves Since the fall of 2008 the Fed has paid interest on reserves at a level set at a fixed amount below the federal funds rate target. Excess reserves are insurance against deposit outflows The cost of holding these is the interest rate that could have been earned minus the interest rate on reserves, ior Hyung Sun Choi, Kyung Hee University When the federal funds rate is above ior as the federal funds rate decreases, the opportunity cost of holding excess reserves falls and the quantity of reserves demanded rises Downward sloping demand curve that becomes flat (infinitely elastic) at ior 5 Hyung Sun Choi, Kyung Hee University Supply in the Market for...
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...Footnotes 1 The Real Promise of Stem Cell Research Dr. David Prentice, HealthNewsDigest.com 2 Derivation of Human Stem-Cell Lines from Human Blastocysts, C. A. Cowan and others. March 25, 2004, New England Journal of Medicine, p.1355 with secondary reference to footnotes 13-17 p.1356. Stem Cell Research Pros The following article is a take on the ongoing debate related to stem cell research pros and cons. The stem cell research information covered in the article below will help you understand the potential of this new research for the benefit of humanity. [pic] Stem cell research, sounds like a plot from a best-selling novel by Robin Cook. However, it's not just a fictional thought, but a reality making waves in genetic research. There is a lot of controversy surrounding stem cell research. There are two groups formed, one supporting and the other against embryonic stem cell research. Both groups use the advantages and disadvantages of stem cell as the basis of arguments. We too shall discuss some of the stem cell research pros in the following paragraphs. This research is a major breakthrough in the scientific world. It is important to understand the positive points of this discovery before we push it over to the recycle bin. Let us have a look at the advantages stem cell research to shed some positive light on this debatable topic. What are Stem Cells? Let's first brush up on our basic, by beginning with some information related to what are stem cells. Stem cells...
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...Discuss the pros and cons of raising the minimum wage. Give your opinion, experiences and real life examples. Also discuss the complicated relationship between cities, states and the federal government. Raising minimum wage has been a popular topic since the 2014 State of the Union Address announced by our President. His desire is to increase minimum wage by over 40%, which is $7.25/hour to $10.10/hour. While the president and his supporters claim it to be beneficial, opposes predict over 500,000 jobs will be lost. Pro: Economic Incentive (raising the minimum wages means more money to expand resulting in more money flowing through the economy by individuals spending more), Increase in Job Opportunities (earning more money leads to spending more money. Businesses will need to hire more employees to keep up rising sales), Reduced Expenses for Social Program (employees who re earning more money will be able to support themselves better without depending in social programs which would result in lower taxes), Turnover Rate would Decrease (with a higher minimum wage, employees may feel more comfortable and satisfied in their jobs, they are less likely to leave. Lower turnover rate means fewer hires which means less training expenses), and Inflation (this would account for inflation, which rises every year. Minimum wage has only increased 3 times in the past 30 years). Cons: Layoffs (some companies may no longer be able to support the number of employees they currently hold. While...
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...February 2015 The national welfare system was created in 1935 to provide federal aid to the elderly, disabled and qualifying single mothers during the Great Depression (Costly, 2015). Public housing assistance, the Food Stamp Program and Medicare are examples of state programs available to assist families in need. Welfare, undoubtedly, is an essential source of assistance for many under privileged families. In recent years, some states have enacted drug testing for welfare recipients. This action has raised the question if it’s unfair search and seizure, other words, unconstitutional (Fourth Amendment to The United States Constitution, n.d.), or does it really discourage suspected drug abuse Many Americans agree there needs to be a reformation to the Welfare act and how the assistance should be utilized by its recipients. Opponents argue that the children will bear the brunt of the drug testing policy and it will cost more than it saves (Drug-Testing & The TANF Program, n.d.). The children depend on the adults to receive the benefits on their behalf, but when those benefits are being traded for drugs and/or cash to purchase drugs, there is no benefit. Discontinuing benefits to individuals who test positive for illegal substances would allow those funds to be returned to the state and federal budgets. In return, those unused funds will aid in balancing the state’s budget and redirect those funds to other deserving parents. In the public’s eye, welfare recipients should...
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...Identify the pros and cons of the partnership as a form of ownership. There are quite a few pros and cons with having a business partner. They are as follows: Having two people responsible for the big picture, and making sure no important balls get dropped makes for an easier run of things. Having two perspectives on challenges and another brain to bounce ideas off will help avoid a number of disasters that rash decisions can create. Self-care and work-life balance are the elusive goals of every entrepreneur. It's easy to keep pushing yourself to the brink in the interests of furthering your business; what's less easy is to watch someone else being pushed to that same edge. And, as we know, the trickiest piece of the puzzle is the "self" part. Another pro of having a business partner is someone always has your back. It's really easy, as entrepreneurs, to believe that your way is the best way. In fact, many people go into business, because we were pretty convinced of this, and, if your business is successful, you have ample support of that view. But no one is right all of the time, and having a business partner to whom you have to justify your reasoning is a great way to make sure you're making decisions soundly and not just because you like the sound of your own ideas. Often business partners grow apart and you may not always find yourself heading in the same direction as your business partner, even if you start off in exactly the same place. With more than one person at the...
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...Reflective Questions 1. What was your purpose in writing the paper? What do you want the reader to understand after reading? My purpose was to do an argumentative essay in accordance with Rampage Chapter 14. I want the reader to understand the pro and cons of using privatizing Social Security. 2. What was the most challenging part of writing this paper, and why? Explain. For me it was sitting down and gathering my thoughts. I had a trying schedule with work and needed that time to myself to make it happen. I do have an opinion and I find it difficult to put them aside and argue both sides. 3. What do you see as the strengths of the paper, and what would you try to do if you were to revise it some more? The strength of my paper I feel is that it gives legit and strong facts of the pros and cons of the topic. If I could tweak it some more it would be to not personalize it as much. 4. What is not a part of your paper that you think might help a reader understand or appreciate it more? What didn't you put in? Are there certain events or feelings or memories that led you to write on this topic or to take this approach? What kind of feedback or response would you like from your reader? I think this essay will definitely bring to light the future of social security. I think that individuals don’t know that they could lose their money if they do not take the time to learn the benefits of the programs to include privatization. Jabari Williams Professor Houston ...
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...According to this article, the Congressional Budget Office (CBO) released an updated federal budget outlook for the next 10 year “budget window”, during the week of February 3rd, 2015. Detailed in this report were some revisions to the previous baseline projection for the effects of the Affordable Care Act (ACA). A more defined explanation and history of ACA: Federal health reform uses an approach that starts with the health insurance system we currently have in place in the United States. Health reform builds upon our current health insurance system to provide more people with access to health insurance coverage, establish legal protections for consumers, and set up mechanisms for consumers to shop knowledgeably for insurance. On July 14, 2009, House Democratic leaders introduced a 1,000-page plan for overhauling the US health care system, which Obama wanted Congress to approve by the end of the year. After much public debate during the Congressional summer recess of 2009, Obama delivered a speech to a joint session of Congress where he addressed concerns over his administration's proposals. In March 2010, Obama gave several speeches across the country to argue for the passage of health care reform. After Obama announced an executive order reinforcing the current law against spending federal funds for elective abortion services, the House passed the version of the bill previously passed on December 24, 2009, by a 60-vote supermajority in the Senate. The bill, which includes...
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...INTRODUCTION Objective The general objectives of this study are to describe recent trade problems and examine why these problems are related to, and affected by exchange rates. The study first examines the exchange rate and how it is determined. The study will explore, in detail, the agencies that determine these rates. This study will also present the pros and cons of different prices of goods and services in different countries. Specifically, this paper: (1) defines recent trade problems and how they are affected by the exchange rate; (2) describes the steps taken within the agencies that determine the exchange rates; (3) examines the impact of these rates, both good and bad; (4) analyzes the costs of similar goods in the U.S. and in foreign markets; (5) discusses the pros and cons of the exchange rate and how it affects trade; (6) examines various exchange rate systems: floating, fixed, and dirty floating. Limitations of the Study The topics of exchange rate and trade both have a variety of factors that cause changes. As with any study that attempts to explore current developments in the economy, it is hard to keep information current. It is also virtually impossible to report on the status of every single government that is involved in the exchange market. One of the limitations of this study is to report on up-to-date values of currency while choosing a sample of governments...
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