What is Cultural Diversity Essay Example | Topics and Well Written Essays - 750 words

What is Cultural Diversity - Essay Example Globalization and culture assorted variety are two distinct marvels, yet these are firmly interlinked with one another as far as prevalence and effects on various social orders of the world. Different researchers and erudite people have given their perspectives about thought of social decent variety. In this paper, we will dissect what social decent variety is about, how it is drilled alongside the musings of Professor Sarat Maharaj, who has featured the idea of culture assorted variety as for his own recognitions. The marvel of social assorted variety isn't easy to comprehend in light of the fact that it includes commitment of many individuals, their regional limits, power, and racial, strict, and ethnical practices (Diller, 2010). Rise of blended convictions, patterns, styles, rehearses, musings, legitimate or unlawful movement and overpopulation are some significant factors behind the idea of culture decent variety. In any case, it is a period of innovation wherein globalization i s the most grounded power that works behind each thought in the present century (Maharaj, 2007). Sarat Maharaj is a visual workmanship educator of Lund University, who has fundamentally clarified thought of social decent variety primarily as far as its connection with craftsmanship culture and history. Sarat Maharaj's talk on social assorted variety depends on the rise of various practices and ideas that in the end became significant piece of differing society with the progression of time. Also, he has featured basic parts of the marvels and practices related with the worldwide assorted variety (Maharaj, 2007). He has centered that social assorted variety has now become a significant term for the administrative bodies so as to run and keep up state framework productively with the updating requests of time and people living in different social period (Maharaj, 2007). His talk is significant as it incorporates understanding with respect to the idea of social assorted variety through m ore extensive range. He has utilized different significant terms to interlink with the idea of social assorted variety, for example, starting point of the decent variety, revisionary ideas, advancement, pilgrim power and distinctive racial and ethnic gatherings other than white individuals (Maharaj, 2007). Further, his talk is viewed as significant on the grounds that he has inspired audience members to comprehend a progressive turn throughout the entire existence of decent variety and has constrained individuals to consider settings of the practices that rose through different culture ideas. Multiculturalism is another term that is utilized to characterize social assorted variety. On a very basic level, it is accepted that culture is a lot of qualities, standards, customs and conventions, which is rehearsed by the gatherings of individuals (Baer, 2004). At the point when individuals having a place with various societies come nearer to one another while living in a particular area, they begin sharing their musings and practices both. This pattern offers ascend to multiculturalism. The word multiculturalism has been related with social decent variety since globalization and innovation have brought different locales and various people nearer to one another (Baer, 2004). Worldwide separations have been abbreviated and correspondence has changed into its quickest conceivable structure. Social decent variety is about moral gauges of social associations with individuals from different social orders. Today, social decent variety is drilled wherever most explicitly in enormous and solid conditions of the world (Diller, 2010). For example, nations like the US and UK, these are two ground-breaking countries of the world with solid economy and all around organized state framework. Individuals over the globe will in general move in these nations in

Environmental Sustainability and Brand Story - MyAssignmenthelp

Question: Examine about the Environmental Sustainability and Brand Story. Answer: Presentation: Patagonia is a USA based dress organization that is wanting to develop out of USA and work in the worldwide attire showcase. The association has first entered the UK showcase through autonomous stores; anyway the store is presently wanting to enter the UK dressing industry with their own stores. For this reason, the association requires to break down the large scale factors that can influence the business exercises and dynamic procedure. This investigation will likewise assist the association with planning its methodologies as per the patterns of serious market. There are different political components that can affect the nearness of Patagonia right now; anyway it can likewise influence the maintainability of the organization sooner rather than later. There are major political reasons that can impact the association, for example, the duty rate that has been imposed by the UK government (Hepburn 2013). The expense rates have the ability of influencing the main concern of the association, thinking about the partnership, yet additionally the capacity of the buyers for spending much for their garments necessities. Anyway it ought to likewise be noticed that there are hardly any geopolitical variables that has affected the style business in UK in a positive way, despite the fact that the vulnerabilities despite everything win. As expressed by Long and Fain (2015) psychological oppression, geopolitical precariousness, slowed down exchange accords, fear mongering will in general increment the obtrusive feeling of vulnerability inside the worldwide economy. Other than fear mongering, there are different sorts of political strains that have continued influencing the business in UK, in this way raise the vulnerability level for the style business (Puustinen 2016). The nonstop political moves in UK and USA have affected the circumstance of style industry. The loan costs have likewise expressed remaining at a low pace throughout the previous hardly any years. In any case, this factor can be valuable for the organization as they can be equipped for obtaining enormous measure of cash for capital developments inside a lower rate that the past. These borrowings can be successful instead of long haul getting and simultaneously, the association may likewise confront issues for picking corporate securities. Current financial condition of UK can severy affect the matter of Patagonia in UK advertise. Since the business makes premium separated system, it very well may be seen the general monetary circumstance has the ability of affecting the fate of the organization to an extraordinary degree than working in the spending plan and need area in the worldwide market. Thinking about the factual point of view, it has been seen that there is a nonstop budgetary rollercoaster in the UK advertise (Myers 2017). After the beginning of the global financial emergency in the year 2007, the GDP development had returned to negative figures in the economy. The next years had given more terrible exhibitions. Notwithstanding, the circumstance began recouping from 2011, anyway the insights despite everything show that the financial state of UK has not been steady yet and it has kept turning into a level line (Bocken et al. 2014). Notwithstanding that, the low work rate and extra cash for the family units can be a disturbing example for the business exercises of Patagonia. Throughout the previous ten years, there are a few social changes that have occurred in UK. These progressions have shown that the millennial is the essential objective for the style business; in this way the associations need to remember that the decisions of this age are a great deal not quite the same as the past ones. There have been tremendous changes in the at the socio-social level which have caused the millennial age to don't simply go for helpful shopping propensities, yet they likewise go for good quality items and low costs (Shih and Agrafiotis 2015). With the segment changes, the associations in design industry are confronting new difficulties. In this manner they need to understand the push and the quick ascent of quick design. The flavor of style has changed; along these lines the associations ought to have adjusted their creations to that. Since Patagonia has been working in the UK showcase for a long while, they may have some thought of the UK advertise patterns, in t his manner this can be a positive side for their business (Johnson 2016). For building up the style retail inside UK advertise, innovation plays a huge factor. With the enhancements of web, IT, globalizations and the amplified use of cell phones are currently changing the client decisions and advertising and deals. The clients are currently very much perused and settle on their decisions in the wake of doing appropriate investigates in regards to the brand and material (Bocken and Short 2016). They additionally share their perspectives via web-based networking media locales. Notwithstanding that, the millennial age likewise shops on the web, thusly Patagonia additionally need an online site for giving adequate client assistance. Innovation has additionally helped the associations in growing their business abroad as it did for this situation (Payne 2014). Thusly the web based business has helped them to go past the national fringes and associate with colossal purchaser section. Both the manageability and condition are noteworthy components for the style business. The association requires being increasingly cautious for their carbon impression which will make them greater condition neighborly. Patagonia should utilize crude materials, assembling and bundling that are condition well disposed. As expressed by Bocken et al. (2014) organizing supportable design would assist the association with working on their change in assembling also. It has additionally been seen that in excess of sixty five percent of the clients are currently selecting maintainable style items. The supportability factor has likewise become a significant influencer for the buying choice of the clients. Accordingly the association needs to chip away at their supportability objectives and accomplish them for pulling in more clients. There are not many legitimate and moral difficulties for the style business. These are the significant center zones for the association and Patagonia needs to deal with that. As this association will likewise go about as a huge boss, hence the work laws alongside the other normal laws will be material for the business exercises (Ward 2017). In the ongoing occasions, the natural laws have created which ought to be dealt with. Different laws identified with worldwide exchange ought to likewise be dealt with as the straightforward and moral picture of the brand can be gainful for the achievement of the business. Openings and dangers for entering UK showcase: The brand offers a few sorts of items that can pull in a gigantic client base in UK. As the brand just focuses on the client base comprising of open air activists and upper working class clients, there is a higher possibility of brand devotion among them (Puustinen 2016). Notwithstanding that, the tough items make more open doors for the brand in UK showcase. The brand can likewise build their image presentation through thorough promoting and advertizing. Through improving their quality on the web based life, Patagonia can improve their introduction on the battles (Song and Lewis 2013). In the wake of entering the UK showcase, the brand can likewise expand the product offering which will assist them with entering the new outside market without any problem. There are other open air garments marks in the market that can go about as an immense danger for the business exercises of Patagonia. These organizations are regularly with all the more sensibly valued product, in this manner there are higher odds of market immersion. The continuous money related questionable circumstance in UK can likewise be a growing danger for the organization (Petrie 2016). Alongside that the unfavorable circumstances in the assembling nations and the supplier of crude material can likewise be a gigantic danger for the matter of this brand. Basic conversation of Patagonias assets and skills There are a few sorts of assets for an organization, for example, unmistakable assets and impalpable assets. Inside the substantial assets, there are two regions: money related assets and physical assets. The budgetary assets allude to the obtaining limit of the organization, close by money and the produced money, though the physical assets allude to building, crude material, hardware, retail outlets, land, distribution centers, stock and so forth. The impalpable assets incorporate the human capital, innovation and social assets (Ward 2017). The HR are the most critical elusive asset of an organization. This segment will talk about the physical, budgetary and human asset of Patagonia. The association sells the open air apparel which is showcased as the supportable items. Patagonia additionally submits 1% of their whole deals or 10% from their benefit for the ecological purposes. The association has been established in the year 1973 and from that point forward the association has cleared its path through the worldwide feasible organizations (Patagonia.com 2017). Other than North America, the association has its essence in Japan and UK; anyway in UK the association works through 24 free stores. There are 68 shops all around the globe, for example, Spain, San Sebastian, Dublin, Milan, and Munich (Patagonia.com 2017). Patagonia has the worldwide turnover of $600m consistently. Thinking about the worldwide ecological emergency, the association gives 1p of its yearly gross incomes to the government assistance of the natural emergency, which was around $6m in the last monetary year (Patagonia.com 2017). The workers of Patagonia are very enthusiastic with respect to their items; generally they themselves utilize these items and attempt to give more contribution as the clients. The authoritative culture in Patagonia has been fruitful in pulling in and holding representatives who have the adaptability and will in general spotlight more on adjusting work and life. The workers assume a significant job in their prosperity (Pal 2017). The adjusting among work and life has likewise played a majo

MIT Gangnam Style

MIT Gangnam Style In case you havent been on the Internet recently, a music video called Gangnam Style was released over the summer by K-pop rapper PSY, and now has the third most views on all of Youtube.  560,719,326 views, as of 8:23am today. 560,719,327 a few minutes later, because a friend came into my room who had never seen it, and I had to educate her. For the rest of this post to make sense, you should probably catch up: Now youre ready.  On September 14, Chris Peterson e-mailed the bloggers, letting us know that the MIT Korean Student Association was filming an MIT Gangnam Style. At the beginning of October, I started seeing notices on the DanceTroupe mailing list about Gangnam Style rehearsals. On Sunday October 21, there was a Gangnam Style flashmob on Killian Court. This morning, the official MIT Gangnam Style music video was released to the public. Only an MIT Gangnam Style video could feature: the MIT Dean of Admissions, one of the principal leaders of the Human Genome Project and co-chair of President Obamas Council of Advisors on Science and Technology, the father of modern linguistics, and one of  Times 100 Most Influential People in the World in 2012 for his liquid metal battery research. Without further ado, prepare to be rendered speechless:

Essay on Thomas Morton and the Puritans - 2673 Words

Thomas Morton and the Puritans An anti-city on a hill with a maypole compensating for something? A pleasurable refuge for indentured servants freed from service and respected natives? A place where a man just wanted to annoy his uptight, religious neighbors? Those are the obvious conclusions, but with like most anything in history, theres meaning and significance that we dont catch at first glance. Thomas Morton had an agenda, puritan leader John Winthrop may have had a secret, and there are so many fictions surrounding their whole story, its hard to tell whats reality and whats not. Its time to sift through the parts, and piece together a bigger picture, asking one, main question: Why were Morton and the Puritans engaged in†¦show more content†¦But he became governor of Plymouth Plantation in 1621. He adorned Morton with the derogatory nickname, Lord of Misrule, who ran a School of Atheism (Bradford 321). In 1630, after the first time Morton was sent to England, accused of selling guns to the Indians and then returned (due to a knight, Ferdinando Gorges, who needed someone to spy on the Separatists because he wanted New England as his fiefdom), Governor John Winthrop of the Massachusetts Bay Companys colony, joined with Bradford to keep Morton out of their hair (McWilliams 8-9). They charged Morton with the stealing of a canoe (10) from the Indians, and wrote letters to England accusing him of murder. That didnt work either -- he just told Gorges he was a persecuted Anglican (10). The men never settled their differences; after a third attempt at jailing Morton for a year, Winthrop, urged him to leave Massachusetts (11). He did, and died in 1647, at the age of 67, in Maine. That was only a quick overview of the key players. Since it started with Mare-Mount, lets explore the name itself. McWilliams explains the many, suggestive meanings: By playing upon the double meaning of mount and the four-fold connotations of mare (joyful, Mother of Christ, to join in matrimony, a female horse), Morton may have hoped to provoke his Puritan neighbors... (7). Was this all just to offend a peoples religious sensibilities? Of course not -- it was aShow MoreRelatedWilliam Bradford and Thomas Morton1110 Words   |  5 PagesIn the New World Bradford and Morton were both important men of our history. The stories of both great men give us an insight into the way religion and influence affected Puritan life. William Bradford said he believed, â€Å"Plymouth people were the chosen people to live out their last days in the earthly church† (Daly pg 560). Puritan settlers came to the new world seeking a better life and to get away from the rule of the Catholic Church they wanted to become a primitive Baptist church like in theRead MoreOpposing Views of Early Americans, Thomas Morton and John Winthrop1423 Words   |  6 PagesThere may not be two more contrasting characters of early America then Thomas Morton and John Winthrop. Morton was nicknamed, Leader of Misrule while Winthrop was seen as the model of [a] perfect earthly ruler (147). These two figures not only help settle a new land, they also had firsthand knowledge of each other. They are not two people that lived years apart from each other but rather they lived concurrently. With two such polarizing people living in a small new land, there was bound toRead MoreReaction Toward Natives And Puritans984 Words   |  4 Page sReaction toward Natives Puritans Thomas Morton and William Bradford lives started off very differently, which may indeed be the reason why they have very different views on the Natives and Puritans. Looking into these differences there is a definite reason why they choose the path they did. Morton taking interest in the Natives and disliking the Puritans happened due to his beliefs and his interest in new things. Bradford for intense was a Puritan, and came to dislike the Natives due to the factRead MoreAnalysis Of The Poem Rip Van Winkle 1527 Words   |  7 Pagesshort story as a new genre in American literature, as William Hedges observes, yet I find it surprising that this story could have been taught as utterly original. As Emerson and the Transcendentalists were able to synthesize the mystical aspects of Puritan thought with the rational and secular facets of Enlightenment thinking, so Irving weaves a new tapestry out of many existing threads of American experience. â€Å"Rip Van Winkle† is a mature v ersion of Franklin’s short fictional sketches, such as â€Å"TheRead MoreInterpreting Bias Within Historical Accounts1501 Words   |  7 Pagesopportunity to uncover â€Å"truths† that can be even more meaningful than the unattainable accurate representation of facts. A primary example of how history can be obscured by writers is the way in which two Englishmen, William Bradford (1590-1657) and Thomas Morton (1579-1647), provide two very different accounts of the same events in Of Plymouth Plantation and in New English Canaan respectively. Both men are affected by the desire to promote their beliefs and to make their tales appear authentic; thereforeRead MoreThe American Character Essay1814 Words   |  8 Pagesfreedom. This parallels history in that a monarchy must be extinguished for the colonists to ignite the freedom that a democratic society provides. Irving’s keen writing exemplifies his historical insight in the tale â€Å"Rip Van Winkle.† Strong puritan beliefs are discussed in Nathaniel Hawthorne’s piece of 1835 â€Å"Young Goodman Brown.† An important question rises that ignites more questions on the role of God versus the devil in how we live our lives, the choices we make, and our uncertain salvationRead MoreThe History of American Literature3501 Words   |  15 Pagesbefore settlers arrived in America, explorers reported on their voyages to the continent. Italian explorer Amerigo Vespucci provided some of the earliest European descriptions of the American continent. Before 1600 Sir Walter Raleigh, Richard Hakluyt, Thomas Harriot, and John White had published accounts of discoveries. The writings of Captain John Smith, an explorer whose travels took him up and down the eastern seaboard of America, represent a shift from exploration narrative toward early historyRead More Timeline of American Literature and Events Essay3022 Words   |  13 Pageskilled over 300 settlers. Jamestown only survived because of a last minute warning but burned down in 1698. Many colonists that survived celebrated May Day on May 1, 1628 with Thomas Morton dancing around a maypole, but the Plymouth Pilgrims were against this display of celebration, and Captain Miles Standish sent Thomas Morton back to England. Intolerance continued when Anne Hutchinson was forced to leave Boston because of her religious beliefs and influence to help establish Rhode Island in 1638Read MoreNavajo Creation Story Analysis1136 Words   |  5 Pagespleased God to smite this young man† (Bradford A: 131). He then reinforces the notion of God’s intervention when he follows the statement with the assertion that the young man’s friends believed what happened to him was God’s will. New English Canaan Thomas Morton’s book, â€Å"New English Canaan† has several literary figures dispersed throughout the chapters. Most notable is the use of a rhyming scheme in both of the poems, â€Å"The Poem† and â€Å"The Song†. The rhyme in â€Å"The Poem† is an iambic pentameter for exampleRead MoreEssay Utopia4252 Words   |  18 Pagesclarissimi disertissimique viri THOMAE MORI inclutae civitatis Londinensis civis et Vicecomitis’, translated into English would read, ‘ON THE BEST STATE OF A COMMONWEALTH AND ON THE NEW ISLAND OF UTOPIA, by the Most Distinguished and Eloquent Author THOMAS MORE Citizen and Undersheriff of the Famous City of London.’. Utopia (Latin: no-place) is a society of great planning and capability. A community where individuals compromised their rights for the good of the collective and focused on a communal

Whatever They Told You About Professional Academic Writing Services Is Dead Wrong...And Heres Why

Whatever They Told You About Professional Academic Writing Services Is Dead Wrong...And Here's Why Most Noticeable Professional Academic Writing Services Men and women who have already utilized the service may help you make your pick. No one could possibly know you have used our site's services. When you elect for our services you're assured of a supreme superior assignment. It's extremely important to read carefully essay services reviews, because you would like to steer clear of low excellent services. Our services are among the very best on the web, and we are proud of it. You know the best place to go when you require academic writing services! The Characteristics of Professional Academic Writing Services What makes writing an essay about yourself exciting is that there's no limit to the range of ideas you may explore, therefore you are totally free to write anything you want to about yourself. The other important issue is the method of communication with an expert essay writer. In reality if you are you looking for a dedicated a professional academic writer to assist you in academic writing. Academic paper writing isn't as simple as writing something on a bit of paper. In the event the academic paper fails to inform the readers, or it isn't successful in creating an argument, then it will not have the ability to fulfill the expectations of the readers. Academic writing should be quite precise. Whether you're stuck with your paper or don't have the opportunity to devote to your assignment, our crew of writers is always here to aid you. Our writers also have composed hundreds of pre-written essays for you to select from. You may be thinking how our writers provide such commendable academic writing services in the united states. The Professional Academic Writing Services Game If you're thinking that you require someone to compose my essay at the moment, you can merely rely on our honest reviews. There are four primary groups of essays. The increasing number of essay writing services is totally overwhelming. The essay order procedure is extremely quick and easy. So when you purchase essays online, let us prove our services to you. Today, there are many services on the web that help people write a wide range of essays. Whether you need assistance with term papers occasionally, or assistance with complex research papers you will surely get the help that you require. So whatever it's that you will need help with academic papers for, you've come to the perfect website. What Is So Fascinating About Professional Academic Writing Services? What you should do is to fill out the purchase form, make a payment, and in a few minutes, you will receive your individual essay helper. In any case, a professional writing service can help protect against making mistakes in the paper. Our service understands that it's practically not possible that you prepare 9-10 assignments in every single semester. So, you may rest assured your term paper service is going to be delivered by means of a pro. An expert writer provides guiding values about how to compo se academic projects in a suitable language for the respective discipline. Well actually it's not just about writing it takes a great deal of skills to generate a master piece. Despite which degree course you're taking, with the assistance of expert academic writing you'll be in a position to handle all the Harvard academic papers your professor provides you. Every teacher must be the role model for those students! The Do's and Don'ts of Professional Academic Writing Services If you're not content with the standard of work produced by us, we're always keen to accommodate. In case you have any questions, you can get in touch with our friendly support team night and day and get immediate assistance. Professional team is everything for absolutely any respected business. As a result of our advanced academic writing services in the united states, getting qualified help has become simpler than ever. What is Actually Happening with Professional Academic Writing Services Professio nal academic writing is an art which requires plenty of expertise and professionalism. With availability of academic writing professionals, you don't have to experience all that. Our native academic experts are rather experienced and possess the ideal knowledge about ways to help you overcome your biggest academic barriers. As you've already read before, we've got a pool of the finest academic writers that are hired on the grounds of their knowledge, creativity and experience.

Making a killing Free Essays

In an unfortunate event Blackwater guards killed three civilians of Baghdad who were mistaken as terrorists. What is in the scenario is the strong reaction of the new Iraqi government. The next 24 hours saw the process of deportment of the troop. We will write a custom essay sample on Making a killing or any similar topic only for you Order Now It was reported that there was indiscriminate shooting and this is completely an unfathomable error. According to Prime Minister Nuri al-Maliki this was a complete criminal act. However there are many allegations against Blackwater and it is believed that they smuggle arms into Iraq. There is enough trouble in the region and it can well be stated that further problems can be avoided to restore peace in the region. (Scahill, 1) It can be remembered that each of the wars included major and minor battles.   They had varying and distinct reasons behind them.   Allies and foes were distinctly different in each case. Each of the wars had a level of analysis.   These levels were individual state, and system.   The levels of war analysis form a hierarchy.   The responsibilities of the hierarchy rely on the scale and nature of the operation. The individual level of analysis in war includes a basic idea of how human traits cause many of the social outcomes in historical instances, including war and peace. From the perspective of sociology it can be stated that there are variations of this idea as listed in a paper written by Wade L. Huntley, Ph.D. titled Causes of War and Paths to Peace written in May of 2004. Those variations include: basic human nature, varying features of human nature and both perception and misperception. His considerations behind this would include that in factoring basic human nature, people are basically aggressive, loving, greedy and fearful and so forth. People would be of all sorts of types, some aggressive, others peaceful, greedy or generous. Perception and misperception can result as bad decisions are made, especially in times of stress, which continually exemplifies the limits of human understanding of more than just human nature. The incident in Iraq, as depicted by Scahill is basically a view that was conducted from the US point of view the views or the sociological parameters of the residents of Iraq are fundamentally overlooked in the article. (King, 145-7) It can well be stated that some analysts argue that democracy in the Middle East will elevate Islamists, including radicals, who will use democratic institutions to gain power but then implement their autocratic agenda. Democracy can also lead to instability. In short, things may get worse before they get better, which may be bad news for the US. Many however believe that in the long run increased democratic governance or the break up of static autocracies will lead to a better outcome than the status quo even if the emerging governments initially oppose U.S. policies. Some furthermore argue that any type of somewhat democratic government would find more common ground with the U.S. than the existing ones even if rapprochement was gradual and difficult. But from the point of view of an Iraqi it can be stated that independence is all that is relevant and it can be mentioned that Scahill was unable to relate himself to this consequence. Traditional security policy emphasizes military means for reducing the risks of war and for prevailing if deterrence fails. Human security’s proponents, while not eschewing the use of force, have focused to a much greater degree on non-coercive approaches. These range from preventive diplomacy, conflict management and post–conflict peace building, to addressing the root causes of conflict by building state capacity and promoting equitable economic development.   The new dimensions of human security are well outlined by the United Nations Development Program in their Human Development Report of 1994. (Lamb, 288-9) Human Security has always been at issue in some format or another. You see it in the methods employed during peacetime and during war time. The methodology utilized might in fact be different from generation to generation, but the concept itself has hardly managed to evolve into something other than what its basics stem from. The pursuits of life and liberty, happiness and peace have been a part of the psyche of humanity since the beginnings of human existence and it would have been much better if the article had developed on these principals. Keeping in mind the developments in Iraq the only solution the USA is left with is one that most people connected to the White House consider absolute anathema. But the truth remains that a military ‘solution’ to the issue is no solution at all but rather a spiralling tunnel leading to a thousand other issues, all of which are far too dangerous to be contemplated. So what can USA do? Well, for starters it can seriously rethink some of its recent policies and shift its focus from military attack to some old fashioned diplomacy instead. But while that sounds simple enough for Washington it is a job unparalleled in its difficulty and, if present indications are anything to go by then, something that is hardly likely to happen and Scahill as a journalist must keep his position as humane and compassionate as possible in this context. Works Cited: Scahill, Jeremy; Making a Killing; The Nation; October 15, 2007 issue; September 27, 2007; retrieved on 24.11.2007 King, Herbert. Middle East Today Vol. IV Plymouth: HBT Brooks Ltd. 2005 Lamb, Davis. Cult to Culture: The Development of Civilization on the Strategic Strata. Wellington How to cite Making a killing, Essay examples

New Labour in the UK Era of Neo-Liberal Consensus on Economic and Social Policy free essay sample

Dhruva Murugasu Christ’s College Part I Economics â€Å"Under New Labour, Britain is witnessing a new era of neo-liberal consensus on economic and social policy. † Discuss The election of Tony Blair in 1997, it is commonly said, brought about a new era in Britain’s Labour party, with the party moving to the centre of the political spectrum and adopting very similar policies to the preceding Conservative government. Tony Blair coined the term New Labour to distinguish his government from the more socialist ones of earlier Labour governments and adopted a largely neo-liberal stance, similar to that of Margaret Thatcher. This ideological shift was actually already in motion after Labour’s heavy defeat in 1983, which was due to their extreme-left manifesto which was later referred to as the longest political suicide note in history. The Labour party more or less accepted that the median voter had shifted to the right, as suggested by Knight, and responded to that by doing the same. We will write a custom essay sample on New Labour in the UK: Era of Neo-Liberal Consensus on Economic and Social Policy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In most senses, there was a neo-liberal consensus, especially outwardly, although this was not always true as close examination of Labour’s policies will reveal. I will approach this essay by first outlining the main characteristics of the Conservative policy during the Thatcher and Major administration and then proceed to point out the similarities and differences between these policies and those employed by New Labour. No particular effort will be taken to discuss the desirability or effectiveness of the policies implemented but rather whether or not there was a consensus and whether it was based on neoliberalism. First, let me deal with economic policy, which can be divided into demand-side and supply-side policy. In terms of demand-side policy, there was a clear shift from Keynesian demand-management to Friedman’s monetarism with the coming to power of Thatcher. This also involved a shift in the focus of economic policy, from full-employment to the maintenance of stable prices according to Knight. A somewhat balanced budget obviously followed on from this and that was the core of the demand-side economic policy. On the whole, there was a consensus with New Labour on these issues. The creation of an independent Monetary Policy Committee (MPC) by the then Chancellor of the Exchequer, Gordon Brown, was, according to Knight, due to the reputation that Labour had for ‘poor economic management’. This act essentially removed monetary policy decision-making from the hands of the government, with the exception that the Chancellor still set the inflation target the MPC had to hit. This move, in my opinion, indicated that the government acknowledged the fact that monetary policy was ‘the principal instrument of macroeconomic policy’ (Knight) as the government saw the need for its determination to be independent and separated from the government’s poor reputation. In terms of fiscal policy, New Labour, outwardly at least, maintained the notion of fiscal prudence, and actually accepted the Conservatives’ spending plan for the first two years in power. The Chancellor’s introduction of the ‘golden rule’ illustrated this. This rule stated that the government’s expenditure, without its capital expenditure, must not be in deficit over an economic cycle. However, the ‘tax and spend’ policy was not fully absent from New Labour’s policies. While they did not raise direct taxes, they did raise indirect taxes in an effort to finance public spending. This was referred to as a stealth tax as it was much more subtle and less often blamed on the government as opposed to direct taxes. The golden-rule was also, as Knight argues, not as it was made out to be. In 2005, Brown extended the business cycle from 7 to 9 years allowing the government to borrow additional sums for current spending without violating the golden-rule. Thus, in terms of demand-side policy, there was some sort of a consensus but it was far from perfect. Next, let me deal with supply-side policy. The Thatcher government, and to a slightly lesser extent the Major government, were both in favour of supply-side policies, which it is argued, can improve productivity. This has the twin benefits of expanding supply allowing the economy to grow while stemming inflation. These policies included restricting the power of trade unions, privatising nationalised industries and reducing the top rate of income tax from the 98% it had been under labour to 40%. All these encourage work effort and remove inefficiencies in the market allowing the economy to become more productive, and are all consistent with a neoliberal stance. From a point of view of the taxation system, New Labour’s policy was widely onsistent with that of the Thatcher government. Brown did not raise the level of direct taxation after the election as promised and in fact cut the income tax and National Insurance Contribution of the lowest paid workers in an effort to encourage employment as opposed to living of security benefits. As mentioned earlier, this did not mean the end of the tax and spend policy as the government did seek to raise taxes through other means including windfall tax on privatised utilities and indirect taxes on consumption (most notably fuel). Nevertheless, what was more important is that these increases had a negligible impact on incentives to work unlike an increase in direct taxes and the increase in indirect taxes was actually undertaken by the Thatcher government as well to finance cuts in direct taxation without requiring additional borrowing. Thus, in terms of taxation policy, it would be quite fair to argue for a neoliberal consensus In terms of the labour market, Labour did maintain most of the policies of the Thatcher government, with a few exceptions. According to Steven Fielding, voters concern was mostly of a repeat of the experience from 1974 to 1979 which were dominated by unions. Blair quickly decided to distance himself from this claiming that his government would not be ‘held to ransom’ by trade unions. He also promised to maintain the legislation he inherited from the Conservative government especially the 1982 Employment Act, in which union funds were liable to sequestration if they undertook any illegal actions during a dispute (Taylor, 2001). Essentially, the Blair government initially adopted all Conservative legislation on this respect which constrained the influence of unions including postal ballots, the abolition of closed shops and secondary picketing. However, the Blair government did have to give in to the pressure of union lobbying and ended up releasing the Fairness at Work White Paper in 1998. This was strongly resisted by employers who had been used to the freedom they enjoyed in the Thatcher government. Nevertheless, after intense lobbying from both employers and unions, the 1999 Employment Regulations Act was passed. The recognition process was made more difficult due to employer lobbying but unions nevertheless were given more power than they were during the Thatcher government. In terms of the EU, one of Blair’s first acts in power was to accept the European Union’s (EU) Social Chapter. The Major government had opted out of this on the grounds that it resulted in labour market regulation (regarding unpaid leave and work councils among others), making it a threat to efficiency. Blair nevertheless promised to oppose any other measures that might undermine the flexibility of the labour market in an effort to assure the employers and opted in to the Social Chapter. New Labour was thus obliged implemented a minimum wage of as part of the Social Chapter, despite initial, opposition from employers who cited the possibility of a higher unemployment. This would clearly be against a Conservative policy of labour market flexibility and could be seen as leading to labour market imperfections as well as structural unemployment. Actual data however, showed there was no appreciable impact on unemployment and in fact, the national minimum wage only involved 4. 5% of the labour force. As a whole, while as a whole we see a policy stance quite consistent with that of a Conservative government, close inspection will suggest that yet again, the consensus was far from perfect. In terms of privatisation, it is a well-known fact that the Thatcher government actively pursued this policy on the grounds of efficiency, arguing that a privately lead company would probably be more efficient as it seeks to maximise its profits, unlike that of a nationalised industry. Thatcher privatised all principal industries except the railways (which were privatised by Major) and the Post Office. Her privatisation policy was thought to be largely successful as it the sale brought about income for the treasury (? 90 billion), most industries went from loss-making requiring subsidies from the government to profit-making ones, consumers benefitted from imported services as well as lower prices and managers were allowed to make investments without the constraints of the Treasury. The Blair government thus made no attempt to renationalise these companies and even privatised the air traffic control system, clearly supporting the privatisation policy of the Thatcher era. Only a series of rail crashes force it to set up ‘Network Rail’ which was a not-for-profit organisation and not a nationalised company to take over from Railtrack. No shift was made back to that of ‘Old Labour’ who sought to nationalise major public utilities. While Labour did accept the notion of the market operating these services better than if they were in public ownership, the Blair government id indeed call for regulation of these industries, which serves again to indicate that while there was a general neoliberal consensus, minor differences did still exist in economic policy as a whole. Next, let me move on to social policy, the first of which will be healthcare. Healthcare in Britain is and has been provided by the National Health Service (NHS) ever since the N ational Health Service Act of 1946, where health care was provided and paid for by the sate being free at the point of delivery. As argued by Knight, the Thatcher government realised that privatising the NHS would have been a highly unpopular policy (it would mean the service would no longer be free at the point of service) and did not seek to do so despite its otherwise neoliberal stance. However, the government did try to improve efficiency of the system by creating quasi- or internal markets, which essentially separated the demand (purchase) and supply (provision) sides of the market for these health services. This meant that District Health Authorities (DHA) would still purchase the health service from the tax pool but with NHS hospitals competing to provide the service. This competition between NHS hospitals as well as the fact that the DHAs were now monopsonies in the market suggested that this would reduce costs. Allowing NHS hospitals to acquire trust statuses (and the fundholder status for GPs) essentially made these hospitals operate like commercial businesses with ‘a high degree of autonomy’ (Knight). While Blair initially opposed these quasi-markets, he did later proceed to extend it. He further decentralised the NHS and had the Department of Health set national standards and undertake inspections. He also introduced the National Institute for Clinical Excellence to ensure cost-efficiency of drugs, set up Primary Care Trusts (in 2002) to replace DHAs and Fundholding practices, introduced foundation hospitals and created league tables for hospitals. The most notable of these is probably the foundation hospital which was accountable to a stakeholder board rather than the government. These hospitals enjoyed much greater flexibility and could raise capital in the financial market, sell land associated with it and retain the revenues as well as set up joint-ventures with the private sector (Knight), thus operating much more like a commercial firm. The main difference between Blair’s and Thatcher’s policy is that Blair’s health policy was designed to be patient-driven, in the sense that patients were given the freedom to choose where they obtained their health services from and the money essentially, followed the patients. All these policies were, in essence, extending and in some cases outdoing Thatcher’s semi-neoliberal policy of quasi-markets and there was a significant consensus on this although this consensus was not fully neoliberal as the NHS was still, in actual fact, not privatised. The only difference in the health policy is the fact that the Thatcher government was very much concerned in balancing the budget and thus sought many cost-minimising measures whereas New Labour, in 2000, did introduce a plan to increase spending on the NHS by 50% within 5 years. In all other aspects, there was a partially neoliberal consensus on healthcare in Britain during the era of Tony Blair and New Labour. A very similar picture appears when we consider education. Again, the Thatcher government, as we shall see, chose not to privatise education as that would mean it was no longer free at the point of delivery, but did implement other measures very similar to those done in healthcare. The Blair government again, chose to maintain these and further them slightly. Thus, it is more important than ever to consider the policies Thatcher implemented as they were subsequently accepted by Blair. The Thatcher government introduced the 1988 Education Reform Act in order to decentralise decision making in education. She created the Local Management of Schools (LMS) which meant that schools could apply to manage their own affairs and removed from the management of local education authorities (Knight). Knight suggested these could also have had political purposes rather that one purely for the sake of a better education system (local education authorities had become increasingly controlled by the Labour Party) but he also agrees that this policy was intended to improve the efficiency with which education could be delivered. The fact is that the LMS turned schools into quasi-businesses, just as Thatcher had done with the trust status for hospitals, and this meant that each school had a decentralised decision-making process, leading to what was believed to be better efficiency. Thatcher also removed the spatial monopolies of schools allowing parents to choose which school they wanted their children to attend, which would probably be those schools with the best reputation for education and discipline (Knight). The money then followed the demand, with funding being provided based on pupil numbers, similar to Blair’s healthcare policy. This competition it was suggested, encouraged schools to become more efficient in providing education and the less-efficient schools would probably end up closing. School league tables as well as a national curriculum both served to further this objective. The Blair government, while at first opposed these policies, basically eventually accepted almost all the policies of the Thatcher/Major government and this says a lot about New Labour’s stand on the issue. At first, Labour abolished the LMS or grant-maintained schools on the grounds that it was divisive and against the desire for social inclusion. Labour nevertheless eventually reversed this decision to improve the standard of schools and once again made decentralised decision-making a key characteristic of education policy (Knight). In facts, Blair even sought to further these policies of Thatcher. He introduced the City Academies which were well-resourced schools with partially private sponsorship and the rest from the state. These schools were allowed to set their own curriculum, pay scale as well as controlled the school’s assets, further reducing the influence of local authorities and continuing the de-centralisation process (Knight). On the whole, they seemed an extension of Thatcher’s City Technology College which were based on a similar principle (which Labour opposed on the grounds of its divisiveness) and the Labour Party had more or less embraced the policies of the Thatcher government. As Knight argued, in 2005, the Labour Party went a step further announcing that all secondary schools were to become independent, self-governing academies or trust schools by 2010. Parents were given the power to determine the curriculum of the school, to dismiss the head teacher if the school under-performed and even create a new school if they wished. Local authorities’ power was reduced further and the Blair government had essentially gone significantly further than the Thatcher government in this respect despite the initial opposition. In terms of higher education, both the Conservatives and New Labour sought to increase the proportion of children in higher education with the Blair government setting a target of 50% of young people to move on to higher education, and encouraged that through the system of university top-up fees. As a whole, it would be quite safe to conclude that there was a consensus on education policy which was mainly neoliberal with the exception of the fact that it was financed out of the tax pool so that education was free at the point of delivery. Lastly, let me discuss the policy on social security and pensions. Here, the Thatcher government was unable to reform the social security budget much as there was very high unemployment in the 1980s and more people thus claimed social security benefits. It did however, make several changes. Firstly, benefits and pensions were indexed to the inflation rate rather than the rate at which averaged earnings increased, which was the higher rate. This obviously widened the gap between the employed and the unemployed (and those on pension) but it did provide an incentive to search for employment as well as reduced the necessary government’s expenditure on this service. The Thatcher government also changed the basis on which these benefits were provided, from a more universal one to a means-tested one (Knight) and private pension schemes were encouraged as a result as opposed to the State Earnings-Related Pension Scheme. Major introduced a jobseekers allowance, a flat-rate benefit for single people above the age of 25 actively seeking work, to replace unemployment benefits, probably in an effort to encourage an incentive to work. He did however; introduce statutory sick pay, maternity pay and an incapacity benefit (for long-term illnesses) all of which are hardly consistent with a neoliberal stance. The Blair government, in essence, made not many changes to this. There was an acceptance of a shift from the socialist ‘equality of outcome’ idea to ‘equality of opportunity’, where inequalities on the basis of effort applied were justified (Knight). The indexing of benefits and pensions to inflation remained although it was promised that pensions will be indexed to earnings by 2012. The jobseekers allowance was maintained as it was very much consistent with New Labour’s stakeholder notion (people should have an obligation to contribute to society rather than just take what they could get from it). Jobseekers had to attend an interview to determine they were indeed actively-seeking jobs and had to sign an agreement they would continue to actively seek employment in the specified sector with the help of the Employment Service. The New Deal was also introduced where people who had been claiming jobseekers allowance for 6 months had to accept a job subsidised by the state, work in a voluntary organisation or attend a training course or else, have their benefit cut. Again, this was very much consistent with the partly neo-liberal stance of Thatcher, although this policy was of limited success as many people chose to accept the reduced benefits. Similar encouragements were made to encourage single parents and the disabled to do the same but this was even less effective as there was no reduction in benefit for those who ignored it. Tax credits were introduced for those with children and those in employment but in low pay. In terms of pension schemes, the Turner Report suggested raising the age of pension entitlement to 68 by 2050, thus encouraging the people to work longer and reducing the cost of the pension scheme (people paid more contributions as well as received benefits for a slightly shorter period of their life). The National Pension Scheme was also introduced for those without secure private pensions or those ineligible for pensions at all. As a whole, the social benefit and pension policy was largely similar between the two partied. The consensus however, does a slight hint of socialism about it although many efforts were made where possible by both the Thatcher/Major and Blair governments to apply neoliberalism to it so as to reduce the overall cost of maintaining the system and to ensure there was minimal disincentive to work. In conclusion, in terms of economic policy, there was a consensus, although it was far from perfect, based on mostly neoliberalism between the Thatcher and Major governments with that of Tony Blair. In terms of social policy, the consensus was, it appears, slightly stronger, but this was based on partial neoliberalism in order to maintain the fact that health and education was free at the point of delivery as well as to maintain the benefit and pension system. As a whole, there definitely was a consensus to quite an extent over social and economic policy based on neoliberalism. Bibliography Knight, Governing Britain since 1945, 2006 Fielding, The Labour Party; continuity and change in the making of ‘New’ Labour, 2003 Powell, New Labour, New Welfare State? , 1999

Stimitizing Schizophrenics essays

Stimitizing Schizophrenics essays Stigmatizing opinions about mental illness are frequent in the community. People with schizophrenia are stigmatized by opinions that they will be dangerous, unpredictable and hard to talk to. The community gains most of their stigmatizing beliefs about mental illnesses from the media (i.e. movies, news, and newspapers). Few really know what its like to be in the footsteps of a person suffering from schizophrenia. Jane Doe* is a 34 year-old woman who has lived in Chino, California since she was born. For the first 15 years of her life, Jane was as normal as the girl next door. But Janes 16th birthday brought the news that would change her life, forever. Jane was diagnosed with schizophrenia. My parents just wouldnt accept it. They sent me to 100 doctors it seemed. All said the same thing. I had schizophrenia. I didnt fully understand what it was that I had until about a month after I had been diagnosed. Instead of denying the problem like her parents were doing, Jane began to research schizophrenia. She figured that it was a part of her that she needed to get to know, because it was going to be there for the rest of her life, or until a cure was found. Jane found out that symptoms of schizophrenia may appear suddenly, or they may progress gradually. Symptoms are divided into two groups, positive and negative symptoms. Negative symptoms usually occur first and are as follows: Problems with speech or disorganized speech, such as abruptly responding to questions or not being able to respond with enough information (for example, always giving a one-word reply to questions) Inability to experience pleasure, which is very common in schizophrenia. The person can no longer enjoy activities that once brought them pleasure, such as playing golf or visiting with friends. This symptom can be very depressing. Lack of emotion, which can lead to few friends or social contacts. The...

Free Online Public Schools for Tennessee Students

Free Online Public Schools for Tennessee Students Tennessee offers resident students the opportunity to take online public school courses for free; indeed they can get their entire education via the internet. Below is a list of no-cost virtual schools currently serving elementary and high school students in Tennessee. To qualify for the list, schools must meet the following qualifications: classes must be available completely online, they must offer services to Tennessee residents, and they must be funded by the government. Tennessee Virtual Academy The Tennessee Virtual Academy is for students who are in kindergarten through eighth grade. The tuition-free school offers courses in six core subjects and is specifically geared toward students with minds that might wander when traditional classes are too slow as well as minds that get lost in the shuffle, (and) minds that need a little more time, according to the academys website. Additionally, the school notes that its program features: State-certified teachers, who are available online and by phoneIndividualized curriculum, which covers both the core subject areas and electivesOnline planning and assessment tools, resources, and hands-on materials ranging from textbooks to microscopes, from rocks and dirt to illustrated classic children’s stories.A supportive school community, which organizes fun and informative monthly activities where parents, students, and staff share their successes, difficulties, and helpful hints K12 K12, which as the name implies is for kindergarten through 12-grade students, is in many ways like a brick-and-mortar school, in that it: Does not charge tuitionUses state-certified or -licensed teachersFollows Tennessee state education requirements for standards and assessmentsResults in a high school diploma upon completion But, K12 notes that it differs from traditional brick-and-mortar classrooms in that: Students receive individualized education and personalized one-to-one support.Classes do not take place in a building but rather at home, on the road, or wherever an internet connection can be found.Parents and students communicate with their teacher via online classrooms, email, and phone, (but also sometimes in person). K12 is a full-time program that follows the traditional school-year calendar. You can expect that your child will spend 5 to 6 hours per day on coursework and homework, the virtual program says on its website. But students are not always in front of a computer- they also work on offline activities, worksheets, and projects as part of the school day. Tennessee Online Public School (TOPS) Founded in 2012, Tennessee Online Public School is part of the Bristol, Tennessee City Schools system and is a statewide public virtual school serving Tennessee students in grades nine to 12. TOPS notes that it is accredited by AdvancED and uses Google Apps for Education to provide students with cloud-based services and email as well as Canvas, an open-access learning website that offers courses in a variety of areas. Families do not pay tuition for a student to attend an online public school, TOPS notes, but adds: Common household items and office supplies like printer ink and paper are not provided. Other Options The Tennessee Department of Education promotes online schooling and notes that parents can enroll their children in online virtual schools that are not based in Tennessee. However, parents need to ensure that the school has a legitimate accreditation status and provide evidence to the local school district that their child is enrolled in an accredited online school. The school must be accredited by one of the following regional accrediting agencies: AdvancEDSACS CASI – Southern Association of Colleges and Schools Council on Accreditation and School ImprovementNCA CASI – North Central Association Commission on Accreditation and School Improvement.NWAC – Northwest Accreditation CommissionMiddle States Association of Colleges and Schools (MSA)MSCES – Middle States Commission on Elementary SchoolsMSCSS – Middle States Commission on Secondary SchoolsNew England Association of Schools and Colleges (NEASC)Western Association of Schools and Colleges (WASC)National Association of Independent Schools (NAIS) and affiliates (e.g., SAIS)National Council of Private School Accreditation (NCPSA) Note that many online schools do charge hefty fees, but there are just as many virtual schools that are free to public school students. If you find a virtual out-of-state school that sparks your interest, be sure to check for potential costs by typing tuition and fees in the school websites search bar. Then, fire up your PC or Mac and start learning online- for free.

How to decrease the possibility of having financial crisis Essay

How to decrease the possibility of having financial crisis - Essay Example The financial crisis in a company is an unplanned burden which may affect its resources, capabilities, the values and the goodwill of the company. Lack of corporate governance and business ethics is one of the reasons responsible for the financial crisis in an organization. Acemoglu and Johnson (2003) have said that managers should change their way of thinking by disregarding that mismanagement of the macroeconomic policies is responsible for the lack of corporate governance. They should plan for strategies to overcome crisis in an organisation. The business leaders should focus on the policies like the legal framework of the organisation and protection of the interest of the stakeholders and investors. A good relationship between the shareholders and the managers help to achieve corporate governance within an organisation. Lack of business ethics in an organisation is responsible for weak corporate governance. Business ethics help an organization to frame a corporate governance stra tegy consisting of values, principles, a good work culture and proper decision making ability of the organizations. Wood (2002) and Lagan (2006) have said that organizations need to set the business ethics with strategic objective which can provide scope for achievement of corporate governance. ... The purpose of this research is to provide a methodology by which an organization can achieve proper corporate governance required in order to reduce its financial crisis. The main objectives of this research are: To achieve transparency and fair operations within an organization. To provide proper decision making ability in order to achieve the goals of an organization. To protect the interest of the customers, the shareholders and the investors. To understand the needs and demands of the stakeholders. To prevent the occurrence of unethical behaviour within an organization. To understand the liability of the directors to the managers and the liability of the managers to the shareholders, also known as accountability. Methodology According to Joseph and Tobin (2006) research philosophy is a procedure of collecting data, analysing it and then interpreting the result in order to work on a particular research. Research philosophy mainly consists of two approaches. One is the positivist style and the other one is the phenomenological style. Positivist research model focuses on analyzing the interdependency of the external variables and internal variables. Positivist style is selected for this research, as this style deals with understanding of the internal affairs related to a business. Positivist style of research will also help to understand the reasons behind the lack of corporate governance in an organization. There are two types of research strategies, namely quantitative research methodology and qualitative research methodology. The research strategy chosen for this research is qualitative methodology. Qualitative research model is used for descriptive research. Qualitative research can be analysed in terms of culture, ethics and behaviour. Qualitative

Set of laws governing public and private security agencies Essay

Set of laws governing public and private security agencies - Essay Example The rate of fatal crimes like homicides and cold blooded murders rose to an unacceptable level for the public. On the other hand the governments around the world blamed persistent economic recession, for their inability to invest in the betterment of the security setup. This above mentioned problem gave rise to the development of privately owned security companies, which worked for the last two decades to provide adequately acceptable security, with the help of latest technology. They are also fairly successful in fulfilling their promises, which compelled the general public to trust them more often. This trend led to the higher level of acceptability of these agencies in the society. According to some famous researchers, this fashion led to cause the shift of power needed to manage the security setup from federal agencies to general public and organizations, thus resulting in the decentralization of authority among civilians (Benson, 2007), who possess the money to hire their own ar my. This phenomenon caused the sense of inequity and insecurity among those who are weak. As a consequence, the prevalence of fear increased in the community. This practice also fueled the cold war for the authority among private and public security agencies, which impacted negatively on the standards of the already decaying security setup. However, the roots of these private security providers could be found in the large scale layoffs in military, after the end of cold war. This left, many highly skilled militants out of job. Due to this reason, they formed collations with each other and started robbing the government’s military facilities in the beginning (Schreier & Caparini, 2005). Thus with the passage of time these organizations formalized their existence and structure. Another important facet of this phenomenon is the consistent collaboration, between the government and private weapons producers, through which the former entity is getting war equipment from the latter one (Avant, 2003). This trend is playing a significant role in strengthening the weapon producers in terms of influence. These non-government security organizations are also used for the following purposes The employees of privately managed security companies are often sent on the harmony preserving missions of UN, because of the fact, that most of the developed nations do not deploy their military forces on these type of missions, due to their political reasons (Schreier & Caparini, 2005) These forces are also deployed in the case of large scale calamity effecting any nation, with the mission of helping humanity (Schreier & Caparini, 2005) They can also be used in support capacity in cooperation with other federal law enforcement agencies (Schreier & Caparini, 2005) Governing Laws for Public Reinforcement Agencies The major purpose of these organizations is to protect the citizens of the country from any kind of loss, due to theft, murder, fraud and other similar activities. They a re under strict monitoring of the government, which results in highly formalized chain of command structure (Glover, 2012). Following are the laws governing formal security operations in US implicated. The police officers cannot investigate any citizen without legitimate reasons They cannot arrest anyone without permission from government officials They cannot search anyone without

Tourism in Sri Lanka Essay

Tourism in Sri Lanka Essay Sri Lanka is one of the most sorts for tourist destinations in the world. It is advantageously situated between West Asia and South East Asia has been a significant stop on the silk route. To express the richness, beauty and the intensity of affection: the visitors addressed the country as Serendib, Ceylon, Teardrop of India, Resplendent Isle, Island of Dharma, and Pearl of the Orient.(Lanka Facts, 2012). Today, visitors are welcomed to Sri Lanka to experience the nations glittering tapestry of culture, and the rich abundance of nature, so handsomely bestowed, and to give credence to the old adage that good things come in small packages. Its landscape orientation especially the Warm Sun kissed Beaches creates mix of opportunities which lead to the final holiday destination. The diversity of temperatures, vegetation and scenery grab a large sense towards Srilanka. It is a most demanding country for lovers of nature and wild life because tourism offers safaris, Treks, Nature walks and Camping that could be a marvelous experience for them. The entire island is swarming with birds and animals. And the animals like elephants and leopards are not scarce. Though foods are not much expensive: they are tasty and the people of the country are very friendly and helpful.This colourful collection act as an indicator of its richness. All requirements are equipped in the country and it is to be one of the best tourist destinations with absolute peace, political stability and the climatic changes can be seen through beautiful waterfalls, rivers, sceneries, tea estates and many other attractive places. Sri Lanka is owned for a rich heritage and it has a recorded history of more than 2500 years and archaeological sites over 250,000.There are 8 world heritage sites within the country that was approved by the UNESCO and they are the hill capital kandy, the sacred city of Anuradapura, The Dutch fort of Galle, The ancient city of Polonnaruwa, The rock fortress of Sigiriya, The golden rock temple of Dambulla, the beautiful Horton plains and the Singharaja rain forest (Sri Lanka Tourism Development Authority, 2011). So, without a doubt a land like Sri lanka cannot be found because it has something to offer for everyone. The increase of tourism occurred in 2011 and is expected to climb further in the coming years. Colombo the capital city, the Cultural Triangle (Dambulla, Polonnaruwa and Anuradhapura), the cities like Kandy and Galle, and most of the southern beach towns which are equipped with good tourist facilities, the roads connecting many of those destinations are improving. The pro of Sri Lanka as a tourism destination is threefold. Firstly, it is a real tourism destination. Secondly, a tourist can travel the whole compact island within few days because it consists only 65,610 square km.Thirdly, it has unparalleled diversity of tourism product. For the ease of communicating the diversity of Sri Lanka in 2010, 8 different products namely; heritage, beaches, wildlife, mind and body wellness, scenic beauty festivals, Essence and sports and adventure are started to position around the country by the tourism authorities. (Sri Lanka Tourism Development Authority, 2011). Art and culture, spices, tea, gems, handy crafts and its people are the unique features of Srilanka which are also known as the essence of the country. From the ancient time the travellers and the traders have attracted to Sri Lanka and it is a languorous tropical island of deep spirituality and serenity. Sri Lanka grabbed the Western imagination as the Tahiti of the East. 5.2.1 Institutional structure of tourism industry in Sri Lanka Tourism industry is under the Ministry of Tourism. Four sections of it are; Sri Lanka Tourism Development Authority (formed in 2005 by replacing Sri Lanka Tourist Board which was established in 1966), Sri Lanka Tourism Promotion Bureau, Sri Lanka Institute of Hotel Management and Sri Lanka Convention Bureau. While Sri Lanka Tourism Development Authority is responsible for all the tourism development activities, the responsibility of all the marketing and promotional work goes to the Tourism promotion Bureau. 5. 2.1 History of tourism industry in Sri Lanka Marco Polo mentioned the Sri Lanka as the finest isle in the whole world as a well-known explorer of the 12th century. For European Travellers it had been a immense tourism destination. (Lanka Facts, 2012). However, the year 1966 was a landmark for international tourism in Sri Lanka, with the enactment of the Ceylon Tourist Board Act No. 10 of 1966. The Act provided permission for the establishment of a public authority known as the Ceylon Tourist Board for encouragement, promotion and development of tourist travel to Sri Lanka (Deheragoda 1980). According to this Act, the Board objectives are numerous: establishment of an institute to control the tourist industry, to encourage people to provide an efficient, attractive and adequate service, the encouraging, promotion and development of the travel trade (Deheragoda 1980; Zoysa 1978). After the establishment of the Ceylon Tourist Board, the Sri Lankan tourist industry has systematically developed drawing much foreign exchange into the country (Handaragama, 2010). From 1966 onwards, the tourist industry gradually inherited results of many mentioned implemented programs for the development of the industry. In 1977 the tourist industry had full attention and support of the government with the introduction of open economic policies and liberalization of the economy, because it was quite a suitable field for the operationalisation of the open economic policies. The tourist industry is gradually developing and reached a milestone in 1983 with ethnic problem with its manifestations particularly in the forms of conflicts in the North and East and bomb explosions in Colombo, threatening the safety of the tourists (Bandara, 2003). According to ADB (1998), until the early 1980s 76 percent of tourism accommodation in the country is owned and forced by the Hotel Corporation (a semi-privatized formerly state owned body).During this era (between mid-1960s and early 1980s) as a result of the state investments, the tourism accommodation facilities expanded. However, with the introduction of liberalized economic policies in 1977, significant amounts of national and international investments were made to construct the accommodation of tourism, mainly in Colombo and the Southwest coast which ultimately lead to control the large part of the inbound tourist market by the private sector. (Sri Lanka, Tourist Boar d, 2003). Growth of the tourism industry got stagnated because of the 30 year long internal conflict and terrorism which caused a negative impact on tourism. With the end of the conflict in 2009, created a lot of opportunities through tourism industry. (Agency for Technical Cooperation and Development, 2011). Sri Lanka had an expansion of 46% in tourism arrivals in 2010 just after the end of the war. The tourism arrivals got doubled from 2009 to 2011 with the number of arrivals attaining 855,975 as at end 2011(Figure 5.2). In 2012, Sri Lanka was named as the best valued destination for holidays by the post office worldwide holiday costs barometer. 5.2.2 Present situation of Sri Lankan tourism United Nations World Tourism Organization (UNWTO) lists Sri Lanka with a 50 percent growth in tourist arrivals among 77 countries that have reported international arrivals data. So that, the year 2011 has been a significant year for tourism industry as the arrival target was over 750,000. Sri Lanka recorded 856,000 tourist arrivals with a 30 percent annual growth at the end of 2011and also expects 30 percent growth as well in this year because the country has performed well compared to the world tourism industry. The sector envisaged 30 percent growth for 2011 with revenue of US $ 839 million (Ref). The hotel occupancy rate has increased up to 77 percent and it has created employment for about 125,000 persons. Compared to other industries it has the fastest growth prospects. Though Sri Lanka is predominantly a beach destination, it could offer culture, nature, agro, community, religious and spiritual attractions by now. Thirty year ethnic conflict of the country has been negatively affected for the growth and the development of the tourism industry (Ganegodage and Rambaldi, 2012). Sri Lankan government is now organizing several events and is in the process of developing the industry in order to make Sri Lanka a top tourism destination in the world. The Sri Lanka Tourism Development Authority will do their best to develop unique, quality and diverse tourism products and services that would globally make Sri Lanka as a unique destination. Identifying and developing tourist specific unique products and services, formulating and implementing Tourism Development Guidelines, facilitating and implementing the legal and administrative process for new product and service development are some activities done by the authority. (Sri Lanka Tourism Development Authority, 2011). Main markets of tourism in Sri Lanka Table 5.2 and Figure 5.4 shows a detailed account of the source of foreign visitors to the top 10 source nations the top ten source markets for tourism to Sri Lanka within the years 2010 and 2011. Sri Lanka relies greatly on Western European markets, especially the United Kingdom and Germany who rotate between second and third place as key source nations. However, India became the largest single source of arrivals in Sri Lanka. During this period, France, Maldives, Australia, Canada USA, the Netherlands and Russia also have become strong source markets. (Sri Lanka Tourism Development Authority, 2011). When tourist arrivals are analyzed by regions, in 2010 and 2011, most of the tourists are from Asia and the Western Europe. Next highest number is coming from Middle East followed by Eastern Europe and North America (Figure 5.4). Thus, these are the important markets of tourism of the country. Main tourist attractions of Sri Lanka Sri Lanka has a large number of tourist attractions for different types of visitors. Bentota, Beruwala, Hikkaduwa, Galle, Negombo and Trincomalee are the dominant beaches in Sri Lanka and they are famous for relaxing, sun bathing and surfing. The living heritage of Sri Lanka of 2500 years was discovered by the culture heritage. It was founded in the 5th century BC, when the Buddhism was first introduced to the island. Anuradhapura can be recognized as the capital city of Buddhism. The oldest living tree in documented history is the sacred Bo tree, grown from a sapling of the tree under which the Buddha attained enlightment.(Lanka Facts, 2012). Sigiriya the 8th Wonder of the World. Veddhas also known as aborigines of Sri Lanka.They are the Sri Lankas indigenous people.Wildlife is a vital assert. Animals such as Elephants, Leopards, Black Bears and many more can meet face to face with Jungle wildlife sanctuaries. Nature Witness the unmatched bio-diversity of Sri Lanka is waterfalls, misty hills, breezy mountains and Sinharaja Rain Forest. Sinharaja is a world heritage named by United Nations. The World Tourism Organization describes that Sri Lanka has the advantage of having 49 sites classified as unique attractions, 91 as rare attractions, and 7 world heritage sites, and 6 of the 300 ancient monuments in the world. (Asia-planet.net, 2012). Purposes of visiting the country by tourists The main purpose of visiting the country by tourists is to have pleasure. During vacations, most of the tourists come to the country to engage in various entertaining activities such as visiting beaches for swimming surfing, boating, fishing, jungle tracking for rock climbing, hiking, wild life seeing , bird watching, and so on. Therefore, it is very important to provide facilities for these activities at the best level. However, tourist coming for business, visiting friends and relations, religious and cultural activities are comparatively lower (Table 5.2). 5.2.3 Future development of the sector There are 2 stages of the future tourism development in Sri Lanka. First stage is to be reached in 2016 and the second is in 2020. The main goal of the first stage is to attract 2.5 Million high spending foreign tourists by the year 2016 (Figure 5.5) and the main target of the second stage is to get 4 million tourists to the country (Figure 5.6). Tourism targets during 2010-2016 The five year master plan prepared by the Department of National Planning for the period of 2011 2016 tackle a range of issues related to Sri Lanka Tourism Strategy including environmental, economic, social, cultural, institutional and promotional aspects together with their mutual relations with the National Development agenda, in order to create a favourable environment to achieve expected tourist proceeds by 2016 (Department of National Planning, 2010). The key objectives to be achieved by the 5 year strategy are  ®Increase tourist arrivals from 650,000 in 2010 to 2.5 Million by 2016.  ®Attract USD 3,000 Million with 5 years of time as Foreign Direct Investment (FDI) to the country.  ® Tourism related employment increase by125, 000 in 2010 to 500,000 by 2016 and island widely expand tourism based industry and service.  ® Integrate tourism to the real economy by distributing the economic benefits of tourism to a larger cross section of the society.  ® Increase Foreign exchange earnings from USD 500 Million in 2010 to USD 2.75 Billion by 2016.  ®Contribute towards getting better global trade and economic linkages of Sri Lanka.  ® Position Sri Lanka as the worlds most precious island for tourism. (Department of National Planning, 2010) Tourism targets during 2010-2020 The vision of the government is to change the Sri Lankan tourism sector, by 2020, to be the biggest foreign exchange earner in the economy and to position Sri Lanka as the worlds most treasured and Greenest isle and draw high spending tourists while protecting the cultural values, natural habitats and environment of the country. Tourism development in the country: provincial level Provinces are the first level administrative division in Sri Lanka. In 1833, they were firstly established by British rulers of Ceylon. Then in the next century most of the administrative functions were transferred to the second level administrative division which is known as districts. Because of increasing demand for decentralization, in 1987 this change was done. In 1978 Provincial councils were established by the Constitution of Sri Lanka (Mongabay.com, 2012). Presently the nine provinces are named as Central, North Central Eastern, North Western, Northern, Sabaragamuwa, Uva and Western Southern (Figure 5). Ministry of tourism develop and manage tourism activities in each and every province because of the decentralization of the power. In line with the tourism development of the national government, provincial councils have development tourism master plans and implemented them during 2010-2016. Most of the tourism development programs of these provinces are mainly focused on rural tourism and niche markets such as nature tourism, ecotourism, culture tourism, agritourism in a sustainable way. Main aim of these tourism development programs is community empowerment and rural development. Motivation of local tourists Government expects to increase demand from domestic tourists, while planning to make additional foreign income to the country by providing facilities for foreign tourists to make additional foreign income to the country. Countrys total population is 21,283,913 (2011 estimated) and 0.934% is its growth rate is (2011 estimated). 14%from the total population is owned by the urban population (2010) and the annual urbanization changing rate is 1.1% (2010-15 estimated). Furthermore, age structure of the country is 0-14 years: 24.9%, 15-64 years: 67.2% and 65 years and over: 7.9% (2011 estimated) (Sri Lanka Demographics Profile, 2012. A positive background will be created in many ways in future because quantitatively and qualitatively local demand for tourism is rising. By using the print and electronic media government is trying to promote the less attractive places and grab the awareness which will help to fulfil the purpose of establishing a good culture among Sri Lankan travellers. (Dep artment of National Planning, 2012). When focusing the evolution of tourism industry in the country, there had been a flourishing period in the past. But, due to some bad experiences such as few youth unrest situations and revolutions, 1989-1992 a huge tsunami in 2004 and severe ethnic way during 2008-2009: the performance had gone down in the near past. However, recently, it is booming and the national government and the provincial councils have implemented lots of plans to get the optimum benefits of tourism in future.

Midterm 2 with Solutions Econ311

Intermediate Macroeconomics 311 (Professor Gordon) Final Examination Fall, 2009 YOUR NAME:________________________________ INSTRUCTIONS 1. The exam lasts 2 hours. 2. The exam is worth 120 points in total: 30 points for the multiple choice questions, 60 points for the analytical questions, and 30 points for the essays. 3. Write your answers to Part A (the multiple choice section) in the blanks on page 1.You won’t get credit for circled answers in the multiple choice section. 4. Place all of your answers for part B in the space provided. 5. You must show your work for part B questions. 6. Write your essays with a pen. Write clearly! 7. Good Luck and Happy Holidays! PART A (45 points) Choose the ONE alternative that BEST completes the statement or answers the question. Your answers must be in the space provided below. USE CAPITAL LETTERS. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | PART B (45 points) Please show your wor k and write down the formulas you use for partial credit. Question 1 (5 points) (a) What monthly rate of inflation causes the price level to increase by a factor of 5 (500 percentage points) over a year? (2 points) (HINT: Use the LN and EXP formulas from Chapter 9, Problem 2, further examples of which were presented in lecture on November 11). Using the log formula: p = 100*log(5)/12 = 13. 4%. b) If the rate of monthly inflation is 25%, by what factor would prices have risen over a year? (3 points) Let’s call the initial price level P0 and the price level at the end of the year P12 25 = 100*log(P12/P0)/12 P12/P0 = exp(25*12/100) = 20. Question 2 (10 points) Consider an economy where inflation expectations are given by the equation pet = . 4 pt-1 + . 6 pet-1 . Also assume that when the log of the output ratio increases by 1 points, inflation increases by 4 points. a) Write down the SP equation, both its general form and its specific form with these particular parameter assumpt ions inserted. (2 points) pt = pet + gYt-1 + zt = . 4pt-1 + . 6pet-1 + 4Yt-1 + zt ) Write down the DG equation (no need to derive anything, just write it down). (1 point) Y = Y-1 + [pic] – p c) Combine the SP and DG equations to express p as a function of pt-1, pet-1, Yt-1,[pic]t, and zt. (2 points) (HINT: Your answer must have p on the left side of the equation and terms not including current p on the right side, with all the relevant parameters inserted and solved out. ) p = 0. 4p-1 + 0. 6pe-1 + 4Y + z = 0. 4p-1 + 0. 6pe-1 + 4(Y-1 + [pic] – p) + z 5p = 0. 4p-1 + 0. 6pe-1 + 4Y-1 + 4[pic] + z p = 0. 08p-1 + 0. 12pe-1 + 0. 8Y-1 + 0. 8[pic] + z For the remainder of the problem, assume that in period t=1 the economy has values given by: p0 = 3pe0 = 3Y0 = 0 ) Suppose there is no supply shock in period 1 (z1 = 0) and that [pic]1 = 5. Solve for period 1 values p1 and Y1. (2 points) p1 = 0. 08(3) + 0. 12(3) + 0. 8(0) + 0. 8(5) + 0 = 4. 6 Y1 = 0 + 5 – 4. 6 = 0. 4 e) Sup pose instead that there is a period 1 supply shock that increases the value of z from 0 in period 0 to 1 in period 1. Find the period 1 values p1,[pic]1 and Y1 as well as the expected period 2 inflation, pe2, if the government adopts an accommodating policy. (3 points) Accommodating Policy means Y1 = 0, so from the DG equation p1 =[pic]1 and from the SP equation: p1 = . 4(3) + . 6(3) + 4(0) + 1 = 4 = [pic]1 pe2 = . 4(4) + . 6(3) = 3. 4 Question 3 (15 points)Consider a country whose Central Bank issued 100$ of High-Powered Money (H). Citizens' cash holdings (dollar bills) amount to 10% (. 1) of their deposits while each commercial bank has to have reserves for 15% (. 15) of the volume of deposits. a) What is the level of deposits? (2 points) D = H/(c+e) = 100/(. 1+. 15) = 400 b) What is the level of the Money Supply defined as dollar bills and deposits? (3 points) M = (1+c)D = 1. 1*400 = 440 c) Suppose the Central Bank wants to increase Money Supply to 528. How many extra units of Hi gh-Powered Money do they have to circulate? (4 points) M = (1+c) H / (c+e) 528 = 1. 1 H / . 25 H = 120 So they should print 20 extra units of H ) Assume now that the Central Bank still wants to set the Money Supply to 528 but the Government forbids them from printing High-Powered Money. What option is left to the Central Bank? (Hint: restrict your attention to this simplified model where there is nothing like direct lending or any other exotic policy) (2 points) Change the reserve requirement e) Given your suggested policy, which of the parameters of the model would they be changing? To which new value? (Remember that here H=100 and cannot be changed by assumption and M=528) (4 points) M=(1+c) H / (c+e) 528=1. 1 * 100 / (. 1 + e) e=. 1083 = 10. 8% Question 4 (15 points) Consider two nations, Richland and Poorland.Both nations have the same Cobb-Douglass production function, Y=AKbN(1-b). Let Poorland have an economy with technology level A=18, capital elasticity of production b=(1/3) , population growth rate n=. 13, capital depreciation rate d=. 07, and savings rate s=. 3 a) Rewrite the production function as a function relating Y/N and K/N. (2 points) Y/N = A(K/N)b = 2(K/N)(1/3) b) Solve for the steady state values of the capital-labor ratio (K/N) and per-capita GDP (Y/N). (6 points) s(Y/N) = (n+d)(K/N) sA(K/N)b = (n+d)(K/N) (K/N) = [sA/(n+d)]1/(1-b) (K/N) = [. 1*18 /(. 2)]3/2=27 (Y/N) = (n+d)(K/N)/s (Y/N) = (. 2)(27)/. 1=54 c) Richland has a per-capita GDP that is triple that of Poorland. Given hat Richland has the same production function as Poorland, the capital-labor ratio in Richland is what multiple of the capital-labor ratio in Poorland? (In other words, if Poorland has a capital-labor ratio of K/N= x and Richland has a ratio of K/N= y, what is y/x? ). (3 points) [pic] d) Compute the marginal products of capital in the two nations. (3 points) MPK = b(Y/N)/(K/N) MPKA = (1/3)(54)/(27)=2/3=. 6667 MPKb = (1/3)(162)/(729)=2/81=. 0247 e) Judging from your answ er in part (d), does the Solow model predict that poor countries have a higher or lower rate of return on capital? (1 point) The Solow model predicts a higher rate of return for poor countries.This is one of the critiques of the Solow growth model. PART C (30 points) WRITE YOUR NAME AND ID NUMBER ON YOUR BLUE BOOK. As stated on the syllabus (p. 3) and in numerous in-class and e-mailed reminders, you must write your answers in pen not pencil. This is a single multi-part essay question. You should write in your blue book for 30 minutes. 1. Write a coherent essay on the causes of the 2008-09 recession and on the policy responses to this event. Your essay should cover the following specific points a. First, establish the facts. What were similarities in the duration and magnitude of the 2001 recession and subsequent recovery as compared to the 2008-09 recession and recovery so far?Include comments on GDP, the GDP gap, labor market variables, and any other distinguishing features of thes e two episodes. b. What were the most important causes of the 2008-09 recession? Include comments on which causes were the same as in the 2001 recession, and which were different. c. In what sense, if any, did monetary or fiscal policy partially contribute to the causes of the 2008-09 recession? d. Evaluate the response of monetary policy since early 2008. What were the similarities and differences between this response and the monetary policy response to postwar recessions in 2001 and earlier? What aspects would you praise or criticize? e.Evaluate the response of fiscal policy since early 2008. What aspects would you praise or criticize? Multiple Choice Questions Make sure to write you answers on the blanks on page 1! 1. The current account includes all of the following except: A) net exports B) net income from abroad C) net unilateral transfers D) foreign direct investment 2. In what way was the international economy cited as a source of the U. S. housing bubble in 2003-06? A) che aper prices of imported building materials B) support of dollar by foreign central banks C) immigration of skilled foreign construction workers D) high pay of top executives of foreign investment banks 3.Which of the following were not cited in the course as a reason for France and other European nations to be reluctant to endorse an Obama-like fiscal stimulus for their own countries? A) high unemployment in Europe B) low fiscal multipliers C) social welfare system D) unemployment insurance system 4. Suppose we have an economy in which G = 1100, t = 0. 26, Y = 3800, and YN = 4000. At Y the difference between the actual deficit and structural deficit is A) 60. B) 112. C) -172. D) -112. E) 52. 5. The failure of U. S. net exports to improve dramatically in the mid 1980? s despite the weakening of the dollar suggests that A) U. S. industries supply of competitive goods was inelastic over the period.B) LDC debt repayment schedules and lack of financing kept U. S. exports low. C) NCIs mai ntained fixed exchange rates vis a vis the dollar and U. S. exports low. D) All of the above. 6. In the reading period assignments from the Economist, the United States is faulted relative to Europe and Japan for each of the following reasons except: A) labor and capital markets B) primary and secondary education C) personal saving rate D) infrastructure 7. In the reading period article about France, the French are praised for each of the following reasons except A) infrastructure B) household debt C) output growth rate D) medical care system 8. The mechanism of ? international crowding-out? s that a government budget deficit ________ the domestic interest rate, which makes the dollar ________ expensive for foreigners, which then ________ net exports. A) raises, less, lowers B) raises, less, raises C) raises, more, lowers D) lowers, less, lowers E) lowers, more, raises 9. Which of the following effects takes place as a result of automatic stabilization? A) extra tax revenues are gen erated in a boom. B) tax revenues remain constant during a recession. C) leakages increase during a recession, helping to stimulate the economy. D) Both A and C are correct. 10. If the Federal Reserve intervenes in the foreign-exchange markets and buys foreign currencies A) the U. S. oney supply rises and foreign currencies depreciate. B) the U. S. money supply falls and foreign currencies depreciate. C) the U. S. money supply rises and foreign currencies appreciate. D) the U. S. money supply falls and foreign currencies appreciate. 11. Activists-believe that AD is unstable because A) business and consumer attitudes and expectations shift. B) monetary policy is variable. C) fiscal policy effects are unpredictable. D) Both B and C are correct. 12. Assuming constant wages implies that A) an increase in the price of goods raises profits and SAS is vertical. B) a decrease in the price of goods lowers profits and SAS is horizontal.C) an increase in the price of goods lowers profits and S AS is vertical. D) an increase in the price of goods raises profits and SAS is positively sloped. [pic] 13. Consider the above figure with equilibrium initially at E0. If the money supply is increased and prices are flexible, in the short run prices and output will ___. In the long run output and prices will ___. A) be as at E2; return to E0. B) be as at E1; be as at E2. C) be as at E2; be as at E3 D) be as at E2; be as at E1. E) be as at E1; be as at E3. 14. According to the readings, a common feature of the Great Depression and the recent economic crisis was A) mortgage credit B) deposit insurance C) unemployment rate D) monetary policy 15.The sources of the current problems of running monetary policy are often cited as A) Quantitative easing B) Zero lower bound C) Excess bank reserves D) A) and B) E) B) and C) 16. An acceleration of nominal GDP growth from, say 4% to 6% will A) permanently raise the rate of inflation. B) temporarily lower the rate of inflation. C) leave real GDP unaffected in the long run. D) Both A and C. 17. The short-run Phillips Curve gives A) the actual short-run level of real GDP and inflation. B) all possible combinations of real GDP and inflation, for a given set of expectations. C) all possible combinations of real GDP and inflation, for fully adjusted expectations. D) the response of real GDP and inflation to supply shocks. 18.The Fed is criticized for the â€Å"one-way option† regarding asset bubbles. The criticism is that the Fed __________ when asset prices increase and __________ when asset prices decrease A) raises interest rates; lowers interest rates B) leaves interest rates unchanged; leaves interest rates unchanged C) raises interest rates; leaves interest rates unchanged D) leaves interest rates unchanged; lowers interest rates E) lowers interest rates; raises interest rates 19. Which of the following was not a source of the Great Moderation, according to the textbook? A) growth rate rule for money supply B) finan cial deregulation in late 1970s, early 1980sC) magnitude of supply shocks after early 1980s D) government military spending 20. In the short-run, the impact of an adverse supply shock is to A) reduce real GDP and leave the inflation rate unchanged if the growth of nominal GDP remains the same. B) reduce real GDP and leave the inflation rate unchanged if the growth of nominal GDP is reduced enough. C) maintain the same level of real GDP and reduce the inflation rate if the growth if nominal GDP is increased enough. D) All of the above. 21. According to the textbook, the main losers due to the redistributive effect of the postwar inflation in the United States were A) households. B) corporations. C) government. D) A) and B) 22. Disgruntled? workers who quit their jobs to find ? a more reasonable boss? are experiencing A) involuntary unemployment. B) mismatch unemployment. C) cyclical unemployment. D) turnover unemployment. 23. Policy solutions to mismatch unemployment include A) fisca l policies to raise the AD curve B) monetary policies to raise the AD curve C) policies other than fiscal and monetary policies D) accommodative policies to deal with supply shocks 24. Over a year, the money supply in a nation grew by 6 percent, while velocity rose by 2 percent and real GDP rose by 3 percent. This results in an inflation over the year of ________ percent. A) 5 B) 11 C) 1D) 7 25. The the Fed’s quantitative easing after mid-2008 is not described by A) increased open-market purchases of Treasury securities B) increased open-market purchases of private securities C) increased open-market purchases of corporate stock D) A) and B) E) A) and C) 26. Which of the following increased by the largest percentage between mid-2007 and mid-2009? A) excess bank reserves B) M2 C) high-powered money D) total bank reserves E) M1 [pic] 27. Initially, the economy is at point G in the figure above. An increase in per capita savings from s0 to s1 will in the short run result in ____ ____ and in the long run result in ________.A) excess per capita saving; more rapid growth in per capita output B) excess per capita saving; less rapid growth in per capita output C) more rapid growth in per capita output; more rapid growth in per capita output D) more rapid growth in per capita output; no change in the long run rate of growth in per capita output 28. Which of the following will not affect steady state per capita income in the Solow growth theory? A) The savings rate. B) The initial capital stock. C) The population growth rate. D) The production function. 29. The Solow growth model predicts that nations that are initially poor should have A) slower growth rates than nations that are rich. B) faster growth rates than nations that are rich. C) growth rates equal to those of nations that are rich. D) negative growth rates. 30.Two readings in the course packet for Chapter 11 cite a particular technological innovation for improved economic growth in poor tropical countri es. This is: A) television B) internet C) mobile phones D) new drugs to fight malaria 31. Several structural changes that occurred over the past two decades were a theme of lectures. Which of the following was not one of these changes? A) greater importance of structural unemployment and less importance of frictional unemployment B) smaller response of core inflation to oil price shocks C) larger decline of employment to declines in output in recessions D) larger increase of productivity to increase in output in recoveries E) More reliance on wage flexibility rather than layoffs in 2008-09 recession 32.In the Cobb-Douglas production function Y=AKbL1-b, the variable A has several different names. Which of the following is not one of them? A) autonomous growth factor. B) infrastructure. C) multifactor productivity. D) residual. 33. The formula for the growth rate of multifactor productivity is: A) a = y + bk + (1 – b)n. B) y = a + bk + bn. C) a = y – bk – (1 †“ b)n. D) y = a – b/k(1 – b)n. 34. Which of the following does not affect multifactor productivity? A) a tax on low-efficiency firms B) a higher saving rate C) Environmental regulation. D) Technological progress. 35. Relative growth rates of the standard of living in the United States and Europe indicate that workers in ________ have chosen to ? spend? _______ of their higher productivity on leisure rather than on consumption of market goods and services. A) Europe, a significant part B) the United States, a significant part C) Europe, almost none D) the United States, almost all 36. Which of the following would cause labor? s share of national income to decrease? A) Labor productivity increases less rapidly than the real wage rate. B) Labor productivity increases more rapidly than the real wage rate. C) Labor productivity has increased at the same rate as the real wage rate. D) Labor? s share of national income is not affected by the relative growth rates of labor p roductivity and the real wage rate. 37.Once monetary policy is dedicated to controlling the level of nominal GDP, then fiscal policy can be used to A) choose the overall level of interest rates, with a high budget surplus implying a high level of interest rates. B) choose the overall level of interest rates, with a high budget deficit implying a high level of interest rates. C) control the rate of inflation, with a high budget surplus implying a faster rate of inflation. D) control the rate of inflation, with a high budget deficit implying a faster rate of inflation. 38. A major side-effect of a stimulative fiscal policy is that it will A) discriminate in favor of housing. B) crowd out private expenditures.C) increase the natural rate of unemployment. D) permanently raise the rate of inflation. 39. Which of the following was a policy of Roosevelt’s New Deal which is not a part of the Obama stimulus package? A) tax reductions B) infrastructure improvements C) Direct interventi on to stop financial institutions from failing D) Federal government direct hiring of the unemployed 40. The Barro-Ricardo Equivalence Theorem assumes all of the following except: A) Individuals value the welfare of their heirs as much as their own welfare. B) Interest rates will remain constant. C) All individuals have children D) Markets for consumer housing and durable goods are perfect. 41.Which of the following will cause the date that the Social Security trust fund runs out of money to be pushed further into the future? A) A decrease in the rate of real GDP growth. B) An increase in the population growth rate. C) A decrease in the growth of the real wage. D) All of the above. 42. A fixed money-supply rule will have the greatest stabilizing effect on output when A) money demand is unstable and commodity demand is stable. B) both money and commodity demand are unstable. C) both money demand and commodity demand are stable. D) the velocity of money is unstable. 43. M1 is a defini tion of money largely confined to which function(s) of money? A) unit of account B) store of valueC) medium of exchange D) B and C. 44. In the empirical validation of the theory of the political business cycle discussed in lecture, which of the following variables measured over the year before the election has been the best predictor of the outcomes of presidential elections? A) the unemployment rate B) the inflation rate C) the growth rate of per capita real GDP D) the level of the federal government fiscal deficit 45. In the empirical validation of the theory of the political business cycle discussed in lecture, which of the following elections is a clear outlier as violating that empirical evidence? A) 1932 B) 1936 C) 1972 D) 1992 E) 2000