...(7%), Pennsylvania-Dutch (6%) 3. What sorts of contributions did the Scots-Irish bring? (see “Makers” section too) They were westward pioneers, and helped make trails for people to follow. 4. What was the Paxton Boys uprising? A group...
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...Dilemma Use of the Foreign Exchange Markets by the Sports Exports Company (see textbook, 8th edition) Chapter 4 Questions 1. Assume that the U.S. inflation rate becomes high relative to Canadian inflation. Other things being equal, how should this affect the (a) U.S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of the Canadian dollar? 2. Assume that the U.S. income level rises at a much higher degree than does the Canadian income level. Other things being equal, how should this affect the (a) U.S. demand for Canadian dollars, (b) supply of Canadian dollars for sale, and (c) equilibrium value of the Canadian dollar? 3. What is the expected relationship between the relative real interest rates of two countries and the exchange rate of their currencies? 4. Explain why a public forecast by a respected economist about future interest rates could affect the value of the dollar today. Why do some forecasts by well respected economists have no impact on today’s value of the dollar? 5. Every month, the U.S. trade deficit figures are announced. Foreign exchange traders often react to this announcement and even attempt to forecast the figures before they are announced. a. Why do you think the trade deficit announcement sometimes has such an impact on foreign exchange trading? b. In some periods, foreign exchange traders do not...
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... 2. How did East India gain by capturing political power in India? 3. Describe about early settlement Acts? 4. If one carefully studies the period of Indian history between 1757 and 1940 one finds clearly identifiable stages of British colonization each with its specific and distinguishable characteristics. Can you identify the main features of each stage with corresponding impacts on the Indian economy? 5. “The emergence of Industrial Britain resulted in De-industrialization and commercialization of Indian Agriculture in the early part of Nineteenth century”. Do you agree? Explain your conclusions. 6. Discuss the impact of the military and industrial revolutions upon India up to 1858. Which of these would you regard as more important? Industrial Revolution 1. The industrial revolution in the UK changed the nature of British interest in India. Comment. 2. How was the Indian economy affected by the change? 3. What role did opium play in that regard? 4. Would you attribute the origins of the industrial revolution to the inventive genius of the English people? Provide reasons for your answer. 5. Analyze the cause and conditions of the emergence of the factory system of production in Western Europe. What are the chief characteristics? Indian Business 1. Explain the difference in the process of industrialization of jute and cotton textile industries in India? 2. How do you...
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...because of the fluctuations in exchange rate. In this report we are going to discuss 4 basic theories affecting exchange rate that includes: international monetary systems, the balance of payments, exchange rate determinations and international arbitrage. And we will concentrate on the underlying concept and characteristics of each theory and apply them in real world by comparing currency pair actual historical movements, in this report, we specific focus on USD/JPY. The objective of this report is to learn and apply those 4 basic theories and get a clear understanding of how exactly they would affect exchange rate. Finally we will draw conclusions based upon our researches, historical data, and some specific articles in real world. 2. Discussions 2.1 International Monetary System The International Monetary System is the framework of rules, regulations and conventions that govern the financial relations among countries. Such a system is necessary to define a common standard of value for the international currencies. In here, we will mainly discuss the exchange movement of United State Dollar against Chinese Yuan and how it was affected by the international monetary system since 1981. USD/CNY 1981 - 2013 Figure 1 Historically, from 1981 until 2013, the USD/CNY averaged 7.0200 reaching an all-time high of 8.7300 in January of 1994 and a record low of 1.5300 in January of 1981. When China's economy opened in 1978, the Yuan as called as...
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...Canadian public administration in a capitalist world has changed dramatically from its beginnings many years ago. The expectations of public management and public managers in the new millennium are more diverse than ever before. Important issues such as regulatory reform, public sector budgeting, human resources management, strategic policymaking, ethics and corruption are taking a front line. The concepts of rational administration, accountability, planning, control, budgeting and financial management are major factors in the future of Canada and some believe privatization of the government’s delivery of services will improve these crucial aspects of government. Some public service organizations have already attempted to make privatization the major method of handling certain tasks such as building maintenance, methods of transportation and administrative work. A well managed public sector will ensure Canada functions at peak efficiency and this is the goal of the public service. This paper will discuss what may happen in public management within Canada in the future and why a global capitalist society is largely the basis for the transition we are seeing today. Globalization is a factor in the new millennium that must be included in almost any discussion concerning the future. At the click of a finger, a businessman making financial transactions in Toronto can transfer dollars to any country where he is doing business. Globalization has allowed for cheaper and faster transfers...
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...Master Learning Objective Review Guide: Summary 1. A570_Learning Objectives Class #1 a. Chapter 3 b. Chapter 6 2. A570_Learning Objectives_Class 2 3. A570_Learning Objectives_Class 3 4. A570_Learning Objectives_Class 4_Valuation II 5. A570_Learning Objectives_Class 7 c. Chapter 18: An Introduction to Deal Design in M&A d. Chapter 20: Choosing the Form of Financing and Payment e. Chapter 22: Structuring and Valuing Contingent Payments in M&A f. Chapter 23: Risk Management in M&A 6. A570_Learning Objectives_Class 8 g. Chapter 16: Financial Accounting for Mergers and Acquisitions h. Chapter 19: Choosing the Form of an Acquisitive Reorganization A570_Learning Objectives_Class #1 Chapter 1 1. While I do not want you to memorize the lists contained in Chapter 1, I think that they provide a useful model for thinking about M&A. Bruner opines that M&A outcomes (see #2) are driven by “structure” and “conduct”, but that structure and conduct also interact with each other. a. In the case of “structure”, Bruner is referring to “what exists.” He is thinking of exactly the kinds of issues one contemplates when looking at a “SWOT” analysis. As you will recall, the “SW” side of the analysis deals with issues that are INTERNAL to the company (its resources—both capital and labor, and what it is capable—and incapable—of doing) while the OT side of the analysis deals with...
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...Investing in Methane Digesters on Pennsylvania Dairy Farms: Implications of Scale Economies and Environmental Programs Elizabeth R. Leuer, Jeffrey Hyde, and Tom L. Richard A stochastic capital budget was used to analyze the effect of net metering policies and carbon credits on profitability of anaerobic digesters on dairy farms in Pennsylvania. We analyzed three different farm sizes—500, 1,000, and 2,000 cows—and considered the addition of a solids separator to the project. Results indicate that net metering policies and carbon credits increase the expected net present value (NPV) of digesters. Moreover, the addition of a solids separator further increases the mean NPV of the venture. In general, the technology is profitable only for very large farms (1,000+ cows) that use the separated solids as bedding material. Key Words: anaerobic digester, stochastic capital budget model, dairy farm, alternative energy For a host of reasons, U.S. scientists, government leaders, and citizens are increasingly seeking alternative sources of energy. Green energy sources are those that do not emit harmful pollutants and/ or that are renewable. Anaerobic digesters (AD), found on dairy, hog, and poultry farms across the United States, represent potential sources of green energy. AgSTAR, a U.S. Environmental Protection Agency (U.S. EPA) program, whose goal is to increase the number of anaerobic digesters on farms in the United States, estimates there are 6,900 swine and dairy farms that could...
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...of the “First Stage “ of colonial rule in India? 2. How did East India gain by capturing political power in India? 3. Describe about early settlement Acts? 4. If one carefully studies the period of Indian history between 1757 and 1940 one finds clearly identifiable stages of British colonization each with its specific and distinguishable characteristics. Can you identify the main features of each stage with corresponding impacts on the Indian economy? 5. “The emergence of Industrial Britain resulted in De-industrialization and commercialization of Indian Agriculture in the early part of Nineteenth century”. Do you agree? Explain your conclusions. 6. Discuss the impact of the military and industrial revolutions upon India up to 1858. Which of these would you regard as more important? Industrial Revolution 1. The industrial revolution in the UK changed the nature of British interest in India. Comment. 2. How was the Indian economy affected by the change? 3. What role did opium play in that regard? 4. Would you attribute the origins of the industrial revolution to the inventive genius of the English people? Provide reasons for your answer. 5. Analyze the cause and conditions of the emergence of the factory system of production in Western Europe. What are the chief characteristics? Indian Business 1. Explain the difference in the process of industrialization of jute and cotton textile industries in India? 2. How do you explain the Indian Business Community’s increasing...
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...during the vast period from early 16 century to the 1790's. Before the colonist and settlers ever migrated to this region, the natives who were the Indians were able to grow a few crops and conduct regular fishing as part of their diet. Upon the arrival of the white people, they were able to trade with them in exchange for their products like kitchenware and clothes. They were able to live sustainably because they understood the climate and the weather pattern having lived here for longer. Without their help, the immigrants would found the land very tough to inhabit and possibly they might have turn back away discouraged. Water is essential in every part of the human life, for example, cooking, cleaning, growth of crops and animal rearing. As it shapes individual livelihood, so does it shape families and communities. The white people who had experienced civilization centuries earlier were able to expel forcefully the natives and begin massively controlling the land all the way from the coast to the inland. The presence of good harbors and ports contributed to the influx of foreigners while the good productive land and adequate rainfall provided an incentive to stay. This essay will examine how the early settlers and subsequent generations utilized this resource in individual capacity to the community across various aspects of life, that is, economic, social and political uses. However, some methods are not clear cut and may overlap across certain fields. For the economic and political...
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...for periodic fees. a.|true.| b.|false.| ____ 3. Which of the following is not a provision or result of the Single European Act of 1987? a.|increased regulatory uniformity among European countries.| b.|the phasing in of a common currency for all European countries by 1992.| c.|the removal of many taxes on goods traded between European countries.| d.|firms' ability to achieve economies of scale.| e.|all of the above.| ____ 4. Which of the following is not mentioned in the text as an additional risk resulting from international business? a.|exchange rate fluctuations.| b.|political risk.| c.|interest rate risk.| d.|exposure to foreign economies.| ____ 5. Due to the larger opportunity set of funding sources around the world from which an MNC can choose, an MNC may be able to obtain capital at a lower cost than a purely domestic firm. a.|true.| b.|false.| ____ 6. Although MNCs may need to convert currencies occasionally, they do not face any exchange rate risk, as exchange rates are stable over time. a.|true.| b.|false.| ____ 7. If the home currency begins to appreciate against other currencies, this should ____________ the current account balance, other things equal (assume that substitutes are readily available in the countries, and that the prices charged by firms remain the same)....
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...SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS TABLE OF CONTENTS Chapter 1. Globalization and the Multinational Firm Suggested Answers to End-of-Chapter Questions 3 2. International Monetary System Suggested Answers and Solutions to End-of-Chapter Questions and Problems 12 3. Balance of Payments Suggested Answers and Solutions to End-of-Chapter Questions and Problems 17 4. The Market for Foreign Exchange Suggested Answers and Solutions to End-of-Chapter Questions and Problems 23 5. International Parity Relationships Suggested Answers and Solutions to End-of-Chapter Questions and Problems 33 6. International Banking Suggested Answers and Solutions to End-of-Chapter Questions and Problems 40 7. International Bond Markets Suggested Answers and Solutions to End-of-Chapter Questions and Problems 50 8. International Equity Markets Suggested Answers and Solutions to End-of-Chapter Questions and Problems 56 9. Futures and Options on Foreign Exchange Suggested Answers and Solutions to End-of-Chapter Questions and Problems 62 10. Currency and Interest Rate Swaps Suggested Answers and Solutions to End-of-Chapter Questions and Problems 70 11. International Portfolio Investments Suggested Answers and Solutions to End-of-Chapter Questions and Problems 78 12. Management of Economic Exposure Suggested Answers and Solutions to End-of-Chapter Questions and Problems 87 13. Management...
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...LINKAGE OF FOREIGN EXCHANGE MARKETS FACTORS THAT AFFECT FOREIGN EXCHANGE MARKET TRENDS DIFFERENT EXCHANGE SYSTEMS WHICH LINKS THE FOREX MARKET GLOBALLY BASIS OF COMMUNICATION FOR INTERNATIONAL TRANSFERS CONCLUSION BIBLOGRAPHY Page no. 7 9 11 12 14 16 22 25 35 37 39 40 42 5 GLOBAL LINKAGE OF FOREIGN EXCHANGE MARKETS 6 Introduction The foreign exchange market is the biggest financial market in the world. Every day, transactions worth about 3.98 trillion dollars are carried out within the market. The major aim of introducing the foreign exchange market is to facilitate international trade by enabling businesses to perform transactions outside their local currency. The market operates round the clock from Monday through Friday. Foreign Exchange is the simultaneous Buying of one currency and paying for it with another at an agreed price (exchange rate) for settlement on an agreed date. FOREX is an acronym for FOReign Exchange. In the foreign exchange market today, a trader can purchase some amount of international currencies by paying with a different currency. This type of foreign exchange market started to develop in the 1970s, which was about thirty years after foreign exchange was introduced. Some important features about the FX market include the following: 1. It has a very large number of daily participants. This makes its liquidity one of the highest in the world. 2. Participants come from several countries in the world. 3. The market is open from 22:00 GMT on Sunday...
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...Lau, Cheuk Hak AFAS 342-03 2013/11/30 How is history ever present in black women’s lives? 'When I reflect on Black women and images, the first thing that enters my mind is the portrayal of them through media images as self-hating, angry, miserable, and vindictive. All of those characterizations are fictitious and derive from Western America’s foundation of White supremacy, as the Honorable Minister Louis Farrakhan has so clearly demonstrated and proven.' —Dr. Ava Muhammad, attorney and Nation of Islam student minister The lives of black women in the early centuries were always tough. They were frequently the victims of sexual abuse and domestic violence. After Columbus first discovered America, Queen Isabella of Spain saw an opportunity to make a huge profit by sea trading. Her men bought black people in Africa, and sailed to America. People in America bought black people and put them all into farms, mines, and other places to do hard work. This was called triangular trade, and this is how black people first got into America. Whites treated black people like animals; they gave them the worst food, minimal breaks, and the worst dwellings. Black people had absolutely no rights back then. They were property of their owners. Most of the black women became slave girls. After they were bought by their masters, they became the easiest target for sexual harassment from their white masters. Almost every black woman had been sexual violated. For example, we have read a novel...
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...In order to begin to understand and analyze Dr. Peffer’s Theory of Social Justice, we want to first look at the five main principles. These principles are a Modified look at John Rawls’s “Two Principles” of Social Justice (1971). These five modified principles include The Basic Rights Principle, The Maximum Equal Basic Liberties Principle, The Fair Equality of Opportunity Principle, The Modified Difference Principle, The Social and Economic Democracy Principle. First of all, The Basic Rights Principle addresses the very fundamental issues of Security and Subsistence Rights. The Security Rights are described as the institutional responsibility to uphold the physical integrity and protection against threats such as murder torture. Psychological threats are also included which I believe is a great and underestimated point since that is often the more detrimental kind of abuse. The concept of Psychological threats is very hard to apply internationally due to the fact that proof of harm becomes completely subjective. This subjective nature makes it hard to be universally applied. In terms of these states and societal groups not engaging in these ‘extra-juridical’ activities, I cannot say I fully agree. I believe that in certain circumstances where the Security Rights of one person who is has violated that of others, can and should be sacrificed to ensure the security rights of others. A common example would be the interrogation of a known suspect with information pertaining...
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...www.cambridge.org/micro4mbas McKENZIE: MICROECONOMICS FOR MBAS PPC CMYBLK ................................................................................................................ 10 Monopoly power and firm pricing decisions If monopoly persists, monopoly will always sit at the helm of government … its bigness is an unwholesome inflation created by privileges and exemptions which it ought not to enjoy. If there are men in this country big enough to own the government of the United States, they are going to own it. Woodrow Wilson That competition is a virtue, at least as far as enterprises are concerned, has been a basic article of faith in the American Tradition, and a vigorous antitrust policy has long been regarded as both beneficial and necessary, not only to extend competitive forces into new regions but also to preserve them where they may be flourishing at the moment. G. Warren Nutter and Henry Alder Einhorn t the bottom of almost all arguments against the free market is a deep-seated concern about the distorting (some would say corrupting) influence of monopolies. People who are suspicious of the free market fear that too many producers are unchecked by the forces of competition, but instead hold considerable monopoly power or control over market outcomes. Unless the government intervenes, these firms are likely to exploit their power for their own selfish benefit. This theme has been fundamental to the writings of economist John Kenneth Galbraith: The...
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