...---------------------------------- ---------------------------------- Trilemma Introduction:- The trilemma refers to the choice of one or two alternatives among three, it is one difficult choice to do, as all three alternatives are of same importance and need. The trilemma which is also known as impossible trinity is defined according to the international standards, which comprehends that there are three conditions which are impossible to have in the same economy. These three conditions are: fixed exchange rate, free capital movement and an independent monetary policy. A nation can only chose any two of these factors; it depends on the choice of the nation. According to results of the analysis the governments which have tried to achieve all three factors have failed badly. Impossible trinity gives the choice to a nation, to choose two among three factors which are known as independent monetary policy, free capital flows, exchange rate stability. The impossible trinity:- The impossible trinity is a set of three desirable factors which a country wants to achieve but as a matter of fact only two factors are possible to achieve. Its economical diagram is as the following:- Theoretical derivation:- The official representation fundamental the theory is the uncovered Interest Rate Parity condition which condition that in nonattendance of a risk premium, arbitrage will make sure that the reduction or approval of a country's money, another will be equivalent to the nominal...
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...Adam Smith (5 June 1723 OS (16 June 1723 NS) – 17 July 1790) was a Scottish moral philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment,[1] Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. Smith is cited as the "father of modern economics" and is still among the most influential thinkers in the field of economics today.[2] Friedrich Engels (German: [ˈfʁiːdʁɪç ˈɛŋəls]; 28 November 1820 – 5 August 1895) was a German social scientist, author,political theorist, philosopher, and father of Marxist theory, alongside Karl Marx. In 1845 he published The Condition of the Working Class in England, based on personal observations and research. In 1848 he co-authored The Communist Manifesto with Karl Marx, and later he supported Marx financially to do research and write Das Kapital. After Marx's death, Engels edited the second and third volumes. Additionally, Engels organized Marx's notes on the "Theories of Surplus Value" and this was later published as the "fourth volume" of Capital.[1] He has also made important contributions to family economics. Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and writer who taught at the University of Chicago for more than three...
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...Broward Virtual School / Florida Virtual School -High School 2010-2011 Course Offerings 2010-2011 Online High School Courses Broward Virtual School Broward County students have the opportunity to take courses for middle and high school credit taught online by Broward County teachers. Florida Legislators have made virtual education a component of parent/student choice. Broward Virtual School (BVS) has franchised the award-winning program for online learning from the Florida Virtual School, sponsored by the State of Florida. All courses are based on the Sunshine State Standards and the curriculum is directly linked to the benchmarks established by the Florida Department of School. Students may learn wherever they are, whenever they choose, maintaining a specified course pace. Students will use the Internet to participate in a learning experience quite different from the traditional school classroom. BVS serves full-time students as well as students who take courses at traditional high and middle schools. Broward County Schools will offer courses not otherwise available to students at their schools, such as select Advanced Placement classes. Any student eligible to enroll in a Broward County middle or high school may select the online environment. Successful online students are self-disciplined, motivated to learn, possess time management skills, and 21st century technology skills. Course Offerings Students may register for any BVS course offering (contingent...
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...An Open Letter from Kenneth Rogoff, International Monetary Fund, to Joseph Stiglitz, Author of Globalization and Its Discontents 2 July 2002 At the outset, I would like to stress that it has been a pleasure working closely with my World Bank colleagues—particularly my counterpart, Chief Economist Nick Stern—during my first year at the IMF. We regularly cross 19th Street to exchange ideas on research, policy, and life. The relations between our two institutions are excellent—this is not at issue. Of course, to that effect, I think it is also important, before I begin, for me to quash rumors about the demolition of the former PEPCO building that stood right next to the IMF until a few days ago. No, it's absolutely not true that this was caused by a loose cannon planted within the World Bank. Dear Joe: Like you, I came to my position in Washington from the cloisters of a tenured position at a topranking American University. Like you, I came because I care. Unlike you, I am humbled by the World Bank and IMF staff I meet each day. I meet people who are deeply committed to bringing growth to the developing world and to alleviating poverty. I meet superb professionals who regularly work 80-hour weeks, who endure long separations from their families. Fund staff have been shot at in Bosnia, slaved for weeks without heat in the brutal Tajikistan winter, and have contracted deadly tropical diseases in Africa. These people are bright, energetic, and imaginative. Their dedication humbles...
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...Copy and Paste the link below to download IMMEDIATELY!!! http://solutionsmanualtestbanks.blogspot.com/2011/10/accounting-principles-weygandt-9th.html Accounting Principles Weygandt Kieso Kimmel 9th Edition Solutions Manual -------------------------------------------------------------------------- Name: Accounting Principles Author: Weygandt Kieso Kimmel Edition: 9th ISBN-10: 047031754X Type: Solutions Manual - The file contains solutions and questions to all chapters and all questions. All the files are carefully checked and accuracy is ensured. - The file is either in .doc, .pdf, excel, or zipped in the package and can easily be read on PCs and Macs. - Delivery is INSTANT. You can download the files IMMEDIATELY once payment is done. If you have any questions, please feel free to contact us. Our response is the fastest. All questions will always be answered in 6 hours. This is the quality of service we are providing and we hope to be your helper. Delivery is in the next moment. Solution Manual is accurate. Buy now below and the DOWNLOAD LINK WILL APPEAR IMMEDIATELY once payment is done! Prepare to receive your Accounting Principles Solution Manual in the next moment. -------------------------------------- Accounting Principles Solution Manual Here’s a sample list of all other solutions manuals we have, if you need any one of them please contact us at solutionsmanualzone@gmail.com -A Transition to Advanced Mathematics by Douglas Smith,...
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...Assisting developing countries should be the responsibility of developed countries. To what extent is this statement true? Backing to the beginning of prehistoric period when early humans inhabited the Earth, the style of humane society differed substantially to the modern one. Commonly, they presented a “nomadic hunter-gatherer” behavior which “tended to be very small and egalitarian”, according to Wikipedia (2014, ‘Prehistoric’). This means that mankind was not very numerous, and the daily routine was based on survival which just basic needs were supplied by themselves with considerable effort, involving activities, such as, hunting for food, farming, manufacturing their own clothes, and seeking for a safe shelter, usually a cave. Thus, possibly, situations of “pronounced deprivation in well-being” with “the inability to acquire the basic goods and services necessary for survival with dignity” were fairly common in that time, which is a definition of poverty according to The World Bank quoted in a Wikipedia’s publication about the subject (Wikipedia, 2014, ‘Poverty’). However, as human society grew, from the core named family, and then becoming clans, after that villages, and finally, cities and countries, more complex structures of communities were established, since survival was no longer a major challenge. In this way, other necessities were created, as well as, different specialized roles, shared resources and development of new technologies, always focusing in the enhancement...
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...Measures of Happiness and the Secret behind Smile In his article, “The Science behind the Smile”, Daniel Gilbert focuses on the various aspects, reasons and measures of happiness. Happiness, as he explains has now become a part of science which was previously studied only by psychologists. Giving it a scientific view, an economist studies happiness to coincide it with the theory of ‘wants’. When he gets to know the ‘wants’, he’ll be able to assume the demand which in turn will also help him in assuming the supply and overall managing of microeconomics and macroeconomics. Then there are neuroscientists studying happiness from a medical attitude, helping themselves to come up with conclusions; but how every discipline measures happiness varies. Happiness might be measured on a rating scale or any modern technology such as electromyography that measures the activity of smile muscles in the face. But I personally think this kind of technology might end up in biased results. Smiling doesn’t always reflect happiness; it might be forcefully done, people might be forced to smile because it is part of their daily work to be gracious and pleasant, so we can’t base our results on one such factor as smile muscles rather there should be more than one factor taken into consideration while measuring happiness. Studies also report how forceful smiling led employees to distress and eventually quitting work. A research paper was published in the Academy of Management Journal, in which...
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...Mission The General Education curriculum helps build the foundation for understanding historical traditions, contemporary issues, the interdependence of local, urban, national and global communities and the importance of psychological, artistic, religious and scientific inquiry. This program is designed to give the student the opportunity to interact with the multifaceted forces that are continually transforming and reshaping our world. The broad based, interdisciplinary scope of the area requirements is designed to help students acquire the knowledge, perspective, skill and professional acumen that is necessary to become thoughtful and responsible citizens and leaders in an increasingly complex world. The General Education curriculum is focused on fostering urban leadership by developing the cross-curricular emphases of writing effectively, thinking critically, managing information successfully, valuing diversity, practicing social justice, presenting orally and visually and learning to learn. Curricular Emphases: To accomplish these goals the general education curriculum, through its cross-disciplinary approach, provides exposure to a wide variety of disciplines while focusing on developing the essential, broad based, intellectual abilities of problem solving, decision making and leadership with a commitment to lifelong learning. The general education program emphasizes the development of oral and written communication skills; knowledge of the arts...
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...Economics Notes ****The Economic Problem |What Do These Notes Cover? | |To have a look at the mind map for this resource, please follow this link. | |If you would like to listen to these notes as an audio recording, please follow this link [2MB]. | Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version. [pic] • Scarce Resources: o Land ▪ Rent o Labour ▪ Wages o Capital ▪ Interest o Enterprise ▪ Profit o Uneven Distribution • The Science of Choice (linked to Scarce Resources) o Value o Utility o Sacrifice ▪ Opportunity Cost How do we sum up the basic economic problem? We all suffer from it and spend most of our lives trying to resolve it. Essentially, the economic problem stems from the fact that as humans, we have unlimited wants and needs. A need is something that can be seen as being essential to survival, such as food, water, shelter and warmth. A want is something that we would like to have but which is not essential to survival - a car, the latest version...
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...| The Abuse of Keynes’ Theory of Government Spending | And Why Government Spending Needs to Stop | | Chase Cooper | 12/13/2012 | Political Economy Dr.Ramos Abstract: The goal of my research paper is to analyze and present how John Maynard Keynes’ theory on government spending is being abused by the American government insofar that the American government is not following the guidelines and foundations that premised Keynes’ theory, and instead are picking the parts of the theory that allow them to spend at unsustainable levels, creating problems that, one way or another, eventually have to be resolved. My research will prove how the American government is conducting fiscal policy in a way that abuses Keynes’ theory on government spending, and, as a result, why Keynes would not support the American government in their spending endeavors, despite using his theory as their justification. I will be critiquing the application of Keynes’ theory from the Austrian, specifically the works of Friedrich A. Hayek, and Monetarist perspectives, supported by arguments given by Milton Friedman. Section 1: Keynes’ Theory on Government Spending John Maynard Keynes published his famous work, The General Theory of Employment, Interest, and Money, in 1936, during the Great Depression. Economies all over the world were suffering severely from the Great Depression, and there was little hope of economic recovery in the near future. Keynes agreed with the classical economist’s notion...
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...Demand And Supply Of Crude Oil 10/10/2009 Introduction Crude oil is a naturally occurring substance (i.e., “Fossil Fuel”, formed from organic remains over a period of millions of years) found in certain rock formations in the earth. It is a dark, sticky liquid which, scientifically speaking, is classified as a hydrocarbon. This means, it is a compound containing carbon and hydrogen, with or without non-metallic elements such as oxygen and sulfur. Crude oil is highly flammable and can be burned to create energy. Derivatives from crude oil make an excellent fuel. Uses Different types of oil that are obtained from crude oil are as mentioned below: 1. Ethane and other short-chain alkanes 2. Diesel fuel (petro diesel) 3. Fuel oils 4. Gasoline (Petrol) 5. Jet fuel 6. Kerosene 7. Liquefied petroleum gas (LPG) 8. Natural gas Certain types of resultant hydrocarbons when mixed with other non-hydrocarbons, create other products like: 1. Alkenes (olefins), which can be manufactured into plastics or other compounds. 2. Lubricants (produces light machine oils, motor oils, and greases, adding viscosity stabilizers as required). 3. Wax, used in the packaging of frozen foods, among others. 4. Sulfur or Sulfuric acid. These are useful industrial materials. Sulfuric acid is usually prepared as the acid precursor oleum, a byproduct of sulfur removal from fuels. 5. Bulk tar. 6. Asphalt 7. Petroleum coke, used...
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...Staying on Course High School Curriculum Requirements for the University System of Georgia www.usg.edu/student_affairs The Office of Student Affairs student-affairs@usg.edu The high school curriculum is the cornerstone of the University System of Georgia (USG) admissions policy. This document reflects the sdfdsfdsfsdfds unit requirements in each of the academic subject areas. Students should pursue a challenging and rigorous high school minimum USG curriculum to be best prepared for a successful college experience and should consult with their high school counselor to determine appropriate coursework. The following high school requirements must be met by all freshmen applicants and transfer applicants with less than 30 transferable semester hours. Students should contact their college or university of interest to learn about any additional institution-specific admission requirements that may apply. Carnegie Unit Requirements 16 Carnegie Units should be completed by students graduating high school prior to 2012. 17 Carnegie Units should be completed by students graduating high school in 2012 or later. Carnegie Unit Requirement In Specific Subject Areas 4 Carnegie units of college preparatory English Literature (American, English, World) integrated with grammar, usage and advanced composition skills 4 Carnegie units of college preparatory mathematics Mathematics I, II, III and a fourth unit of mathematics from the approved list, or equivalent...
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...-Exogenous- General environmental factors, industry-related uncertainties and some firm-specific uncertainties. -Endogenous- Uncertainties that arise from within the firm, and include managerial perceptions, attitudes and organizational perspectives. -Top two exogenous risks facing business leaders and policy makers for 2012 and the next decade would be severe income disparity (The unequal distribution of household or individual income across the various participants in the economy) and chronic fiscal imbalances (situation where all of the future debt obligations of a government are different from the future income streams) -Other issues: natural disasters such as 2011 earthquake in Japan, flood in Thailand, Political uncertainty in China and Middle East -Globalization has compounded the types and level of business risks. *Typical challenges that managers face involve politics, cultural differences, global competition, Terrorism and Technology. Managers in companies are struggling to find ways to balance their social responsibilities, their images, and their competitive strategies. -PESTEL- An analytical tool to develop and understanding of exogenous risk -Pestel analysis- Political, Ethical, Social, Technological, Environmental and legal understanding or environmental scanning that is CRITICAL if we are to strategically plan and develop our value proposition. -> Exogenous creates Endogenous RISK SWOT Analysis- an analytical tool that helps you develop an understanding of how...
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...Essay Globalization Globalization Debate Globalization is the bringing down of the walls of commercialism that has been going around the whole globe since its inception in the 1880's. By nature we do not trust other countries other than our own but globalization is beginning to change all that. There was one way to describe country-to-country relations back then: non-existent. Well at lease when we talk of relations that is founded in trust and understanding. We forge alliances only because of the things we get from it. But globalization has formed some semblance of unity among all us and the concerns of other nation that back then were opted to be resolved on their own are now an issue with other countries as well and all unite to propel themselves to a solution. Globalization is often used for its financial connotations. The influence it has however is not contained solely to the economy. Other international aspects such as social relations, political discourse and psychological manifestations are also a part of globalization. We have constantly heard the globalization pros and cons and the debate of these globalization pros and cons continue up until now. Here is a bit of a crash course of the pros and the cons of globalization. Pros of globalization are that more accessible market for anyone all over the world regardless of color, race, and social class. “Steady supply of cash to developing countries and even the well established ones. There is an increase in the production...
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...LO1 Hello, you might be wondering how we will increase your product’s sales in the local realm and community... The answer sounds simple enough, marketing! (Brown 2007, p.13) But sometimes as in this case things are not as simple as they sound, so I will present a solution to you. To begin let’s examine what the word marketing means. (Investopiedia.com) notes Marketing is the means of communicating a product or service to a targeted demographic. The word demographic is the specific or target audience of advertising. ( Bacher 2001, p.19) This combination of marketing our product to a demographic is what will make this project a success. Marketing though is made up of up several elements- Research: The first step a business owner should take in marketing their product or service is research. Research encompasses studying the market or available consumers for your product. This will reveal the true demand for a product or service, a company’s competition, and who to advertise the product or service to. Strategy: The second element of marketing is process of taking information learned from research and using it to develop a company goal for marketing a product or service. This element is essentially the process developing a sense of how successful a product or service will be. Planning: This is conjuring up a plan to market achieve goals considered in the strategy element. Coming up with a definitive plan to achieve a desired result is the heart of marketing. The final element of...
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