Radiology :: essays research papers fc

1. Turn on PC and RMS appears Will intake 1,4,5 6,8, 9 A on carte2. Hit 4 for Transcription3. 5 Edit Header/ floor4. Report Look Up5. workout Sequence from written report6. Exam Date always go for reort pick up and make sure it matches7. Seq 8. F1 cypher Status D = date dictated T = date typedN = NewTo use Dictophonelogarithm on by hitting System Access Twice( may necessitate to use Cody and my code is 086999)Use 1 to select by ReportPresss 3 by Subject - (number under pts name) may have to key it to dictaphone more than once may need to use a 8 before number on paper fix up in number and hit the signPut in system time in military time jot down on report from taped messagePut in auth from phone screeenEnter dictated timeMDs Hospital Com specifyer metrical composition 00---- 2 lead zeros and then 4 digits and justified to the leftOn PC F9 to enter W/P (word processing section)Report spirit Use ZN)normal S)specific use N unless some thing excess written in by Radiolog istF3 and F4 to view and move mainstay and forth between headersSome Radiologists give the date and some get dressedt - -HAVE TO HAVE A DATE IF THEY DONT depict ONE, USE DATE ON WRITTEN REPORTCan go back and review sheet when done and for Mammograms, put in information from written additonal sheet (Radiologist Findings)F1 first Enter T for transcription menuChoose breast Catagories (Radiologist Findings)If no answer to a section, hit put off to go past itIf answer, fill in, hit enter and then F1 to unlessPress Escape to bring back to beginning screenIf conclude for Exam noted, to back to Pt.System into Pt Information Enter Pts number, F1 Begin Search, Find Visits ALT H, Find Visit and Enter meridian M --Mammographic Software Reasons check whatever is checked, F1 to save, if problem indicated, undertake aside Dictophone when finished/Sign off PC software at Transciption notice (1 Sign Off)TO PRINT REPORTSIn Transcription MenuGo to Sign Off By RadiologistFind reports by R adiologist F2 to quarter up everything for RadiologistF1 to select Print When you do this, it prints completely for all transciptionistsSHORT CUT KEYSIMPRESSION Hit natural elevation IF1 bear onACR Code Hit Alt 9Find Visit Alt HMammagraphic system Alt MAlt C clinical HistoryCorrect all misspellings foundIf note to facsimile, enter fax number on header screen, Only answer facsimile machine as Y is you know fax number of MD office in system already if you dont know, answer N, enter Fax as 9,776-6176 or if long distance enter as 9,9197766176 AND put it in comments to Fax

Classical India and Mesopotamia Essay

classical India and Mesopotamia are both ancient civilizations with many similarities and differences. some(prenominal) Mesopotamia and innocent India had police codes and were a patriarchal society. Social mobility was not depict in incorrupt India as it was in Mesopotamia. In both societies thither were many things similar and many things different.Both Classical India and Mesopotamia had law codes. Classical India used the Code of Manu duration Mesopotamia used the code of Hammurabi. These codes were followed by everyone in both civilizations. Both law codes had punishments equal to the crime and were based bump off an eye for an eye premise or the principal of relation. Physical crimes had animal(prenominal) consequences, for instance, if you were to hit someone you would be punished by having your hand repulse off. Likewise in both societies the lower class was set super poor. Often the slave class was put to death for breaking the law codes against people of the up per class. Law codes were just one way that Classical India and Mesopotamia are similar.Mesopotamia and Classical India alike were both patriarchal societies. This is important because it shows how a lot we have advanced in womens rights. Women in both civilizations were treated as seat. While women in Classical India were protected, the rights they received were nowhere contiguous the same as they were for men. Only men had the right to own property and make trades in both civilizations. Women were even treated poorly in the law codes. In the code of Hammurabi, if a womans married man died they would need to throw themselves in a fire. All women were to live for was their husbands. The patriarchal society of Classical India and Mesopotamia shows how women were treated and interacted with.Social mobility was present in Mesopotamia while it wasnt in Classical India. In Classical India you were born into the set system which was where you would stay for the remainder of your life. In order to move up you would have to wait for your next life. In Mesopotamia the classes were based on wealthiness. In Mesopotamia there were three social classes. The highest class was the richest and the lowest were the poor. In Mesopotamia if you came upon wealth you would move up in the social ranks unlike in Classical India.Both Mesopotamia and Classical India had similarities and differences with the way the societies were governed and the social interactions between the people.

A Teenage Life Essay

A long time ago,in 1998, a womanish child was born with nothing on her mind. A child who gently sleeps in her mothers arm, and always cries when she gets hungry. This child grew up to become a grand kid. This kid grew up to be me.Respected teacher and my dear friends. I, Fatima Fakrudheen ascertain privileged to stand before you all to deliver a linguistic process on Teenage life . Before I speak, Ive got something classic to say I was told to be accurate. Be brief. And be seated. I counter I allow be as brief as possible..no subject area how long it takesSince childhood, I was the happy-go-lucky kid. I really never bothered everything but only play with myfriends. I was so gleeful, cheerful, and always call back positively. I love my friends, and they do love me. But my entirelife changed when I entered this critical stage in life where everything should be systematic. A new chapter in lifewhere everything calls for desperate measures. Teenage life is a chapter of our li fe where we teens should be meticulous in everything we do. In here, our body grows older, and we cant imagine the things festering in our skins as we go through this stage in life. Haveyou imagined it? That as we go through this stage, everything changesphysically, mentally, socially, and near of all, emotionally.As we go through life, we meet changes. Changes that leave behind make our character stand above all.What you do now will lay the foundation for your state in the future.For a short flowing of our adolescence, we must try to make this the exciting,enjoyable, and memorable times in our life.As a teenager, we are in that enviable stage where everything is positioned to go our way. We are young,full of energy, we tone of voice like we are invincible, totally carefree and becoming free and more independent.We will also have a thousand and one questions as we enter this new stage of life. This is the time whenwe actually need the focal point and support of our parents a nd older people.We are social creatures and the need for companionship is most pronounced among teenagers. Thecompany we keep will have a great raise in our teenage life. Choosing the right circle of friends will save us a lot of troubles, heartaches and possibly a life of deep regret. delight the company of different kinds of people and develop important social skills.

Economic Course Work Essay

The commercialise pick up (red line) for vegetable inunct colour is steeply inelastic, and a huge change in outlay only has a small squeeze on need for oil. In essence, you testament not drive in two ways as fast because oil is cheaper, nor cannister you easily switch from victimisation one type of fuel to another(petrol to diesel) just because its monetary value has changed to be cheaper. The add of oil is relatively inelastic. This is because investment in the production facilities runs to an increase in egress, but the greet of pumping out the oil is relatively the same (Hillier, 2005). It get out cost an oil production facility roughly the same essence to produce at half or full capacity.Maintenance and repairs ordain only be done if the expense of oil is high. In essence, we can say that a small change in the admit and proviso curve causes a larger change in the clearing scathe of oil in Russia. As the cost if oil goes up, the Bus f ares will increase as transporters will try to recover the remaining cost from the passenger, consequently reducing the consume for buses. This in turn will lead to passengers demanding more than of the train services which are not affected by the rise in oil price, thus the shift in the demand curve to the right. Indicating a demand for trains.During earth the demand for oil was low, thus the downward shift of the demand curve from D1 to D2. This was a result of consumers flavor for alternative sources of fuel energy, since the price for oil was high. Also during the recess, due to the recession, the price of oil went up, thus the upward shift of the supply curve from S1 to S2. The high prices led to more production, thus more supply to capitalize on the prevailing high market prices of oil. iv) Use a demand and supply diagram to show what happens to oil prices when the UK adopts energy efficiency measures and invests in hustle and solar energy There will be less demand for oil from the British as they will look for alternative heart for energy, thus the downward shift of the demand curve from D1 to D2. Thus provided organic evolution in alternative energy resources means that in that respect is dissipate of technology thus the equivalent point shifts to the left. v) What happens to oil prices if high stinting growth continues in India and mainland China. India and china are following the traditional frugal growth path which requires huge oil production and use. Since the national resources are limited, large outdo of imports are necessary.Larger demands, higher price, higher expectancy to prices attracts speculators to buy more of the oil, which creates the bubble, higher prices of oil due to increased demand (Copeland et al, 2005). 2. Use demand and supply analysis consider what factors on the demand side and which on the supply side will influence oil prices over the next few years? (50 marks) Prospects in the realness economy. The world populations is increasing daily, signaling an increase in the demand for oil to suffer some of the basic life energy needs . It is estimated that the population of India and China will grow by 8.4% and 10% respectively. This alone is a free market (demand) for oil (Market avenue, 2008). Thus this will affect the price of oil, as the demand will increase, thus a rise in the price of oil. Technological development. The world oil supply will cleanse with new technologies being propagated everyday to ensure more but cost-effective production and distribution of oil to the markets. This will lead to more efficacious and environmentally friendly oil facilities that will increase the supply of oil at a global level (Market Avenue, 2008).As a result, the price of oil will go up in proportion to the investments purge in place to do the renovations and maintenances of the oil production facilities. Global economic political situation as with Iran nuclear issue, in as ofttimes as Iran has high reserves oil an d gas, it is has a nuclear development programme that is looking at using nuclear technology as an alternative to oil and gas. This has prompted political debates impasse, and sanctions as regards the future of energy resources in the world.Reports by Market Avenue (2008) shows that this affects the price of oil in the sentience that Iran has the second largest oil reservoir, next to Saudi Arabia, and thus devote a greater rig over how their international relations plays out with the world super powers and the OPEC to regulate the supply and price of oil. According to Biswajit et al (2007), alternatives to oil, there are increasing alternatives to oil as a source of energy. some other alternatives like, solar, propane, nuclear energy, bio diesel, hydrogen, battery and ethanol. All these are alternatives to oil that accept been proven to work.Even though their use is still small scale compared to oil, they are emerging as good alternatives oil use. This affects the future of oil use globally as they tend to be more environmentally friendly and cheaper than oil. 3. Describe the structure of the world motor political machine attention (25 marks) The first producer of a petrol engine driven car was Karl Benz, 1885 Mannheim Germany. everywhere the years many inventions and different models of cars have come. These include scratch names such as Toyota, Hyundai, Range Rovers, Mercedes Benz, Nissan just to mention a few.Globally there are many producers of cars. For ease of reference they have been ranked by country. In the top ten we have China, Japan, USA, Germany, to the south Korea, Brazil, India, Spain, France, and Mexico respectively. The top ten brand names include Toyota, General Motors, Volkswagen, Ford, Hyundai, PSA, Honda, Nissan, society and Suzuki. This is relation to the number if volumes of vehicles the produced in 2009. Depending on the regions, various cars manufacturers have a specific share in the markets in which they operate in.Example i s that Thailand is today, already the second largest globally, pick-up truck market after the U. S. and is ASEANs largest automotive market and assembler. In her report, Global Automobile Industry Changing with Times , Chithra Gopal R. S. , M. Sc (Agri), says that in Thailand today all leading Japanese car producers as well as BMW, Mercedes Benz, General Motors, Ford, Volvo and Peugeot assemble cars along with their legions of suppliers. The country has extend the main production base for auto- mobile exports in South eastside Asia.One of the biggest foreign producers located in Thailand is Toyota with a production totaling more than 300,000 vehicles a year and the number is having an upward trend. General Motors (GM), although a untold smaller player in Thailand than Toyota, is also increasing production. The other big auto companies located in Thailand are Isuzu, Mitsubishi, Nissan, Auto Alliance, Honda etc. In recent years, BMW and Daimler Chrysler (Mercedes-Benz) have also in creased their investments to gain complete control on local manufacturing and marketing operations, indicating that the auto mobile industry in Thailand has the structure of perfect competition(Biswajit et al. 2007). References Biswajit, N. , Saikat, B. &Rittwik, C. (2007). Asia-Pacific Research and Training entanglement on Trade Working Paper Series, No. 37, July 2007. Retrieved on 21 August, 2010. From http//www. unescap. org/tid/artnet/pub/wp3707. pdf. Case, K. & Fair, R. (1999). Principles of Economics, 5th Ed. New York Prentice-Hall. Copeland, A. , Wendy, D. & Hall, G. (2005). Prices, Production and Inventories, Over The Automotive Model Year, Working Paper 11257, NBER Hillier, B. (2005).The Macroeconomic Debate. Oxford Blackwell, pp. 7-85. Market Avenue (2008). Major Factors Affecting World Oil Market in 2008. Retrieved on 21 August, 2010. From (http//www. marketavenue. cn/upload/articles/ARTICLES_1422. htm Parkin, M. & Bade, R. (1982). Modern Macroeconomics. Indi ana University press Philip, A & Fischer, S. 1980. Rational Expectations and Economic Policy. Chicago University of Chicago Press http//www. tradingtoday. com/26-oil-supply-demand, http//www. eco-action. org/dt/oilfut. html).

Jamaican Bauxite Case Report

Jamaican Bauxite dig Case Report -Palak The documentary video shows how bauxite tap affects environs in Jamaica. After the excavation process fool aways place, the residual red mud is dumped into a lake in the highlands of Central Jamaica. However, these red mud lakes resulted in the percolation of harsh residues (sodium) into the underground aquifers in local eye sockets. The sludge contains high levels of level-headed metals and opposite pollutants. Thus, the soil remaining, can non sustain life on it.The environmental impact of Jamaicas bauxite mining symbolizes the majority of mining or heavy industrial operations. Bauxite mining, which is considered as find mining, is land extensive, noisy and dusty. Mining pits argon often in amongst small rural communities, thereby requiring companies relocate the people and/or to m one(a)tarily report them. To facilitate this process, all the biodiversity has to be destroyed, thus affecting subsistence farmers the most, who are no t even provided with any kind of compensation, as we see Mr.Neville Palmer telling us, in the video. This loss of biodiversity is of great concern to all environmentalists. Mr. Dixon, an environmentalist tells us how the heavy metals present in the mud, is seeping into the ground water and that in give is polluting rivers and streams. Thus, affecting not only the environment and surrounding ecosystem, but to a fault the health of the local communities. The local people complain that the air is pollute by bauxite dust coming from the lake and a nearby processing plant.However, one of the leading companies of bauxite mining in Jamaica, have stated that their bauxite residues facilities contain no toxic components and uses the latest technology for the red mud disposal. Reclamation and proceeds of mined land is also done on a punctual basis. The environmentalists dont seem too satisfied with that, though. They say that the taxation generated by bauxite mining in Jamaica is far les s than the harm caused to the environment by the land erosion n pollution.Meanwhile, as the dispute continues, the mining companies continue to flourish. In the later years, the Jamaican Mining Act was introduced. The Jamaican Mining Act of 1947 requires mines to remove topsoil before mining, and restore it as part of the reclamation process. According to the Act, the companies holding the mining license, must, as concisely as mining activities are over, restore every mined area of land to the level of productivity that existed prior to the mining.This restoration must take place within six months after the activity has ended and mischance to do so will result in a penalty of US$ 4,500 per acre. Since the average cost of restoration for mined-out bauxite lands in US$ 4000 per acre, the companies are encouraged to restore rather than pay the fine. Thus presently, the bauxite mining scenario in Jamaica is of high concern and environmentalists are doing as much as thinkable to curb the harmful effects. The companies too have started to join hands, but no great success or improvements yet.

Estonia Gender Problems Essay

Throughout history, wo hands necessitate constantly strugg conduct for equal rights. However, purge after wo men discombobulate gained increased comparison in many countries, sex activity discrepancy still exists on an international scale. The European country Estonia, in particular, faces a noniceably greater bed cover between mens and womens rights in comparison with its European neighbors. Despite the Estonian sex activity par Law passed in 2004, sexism and sex activity stereotypes are still for the most part prevalent in Estonias giving medication and society. The problem of sexuality inequality has negatively impacted Estonian women in sparing, social, and political aspects of life in Estonia.One major result of sex activity inequality is the limiting of economic opportunities for women. Because of traditional gender stereotypes, Estonian women are believed to be less(prenominal) expensive in the workplace than men. This form of sexism has heavily impacted the a bility of women to sustain and maintain employment and salary in the 1990s womens unemployment exceeded that of men (38.3% of women and 24.7% of men) (Erickson 278). In addition to the high unemployment rate for women, Estonias open gap (the difference between men and womens wages for the same job) is currently the highest in Europe women are paid over 30% less than men for the same profession (Domsch 73). Since Estonian women are economically deprived by unfair employment and salary, many women are forced to perish economically dependent on their husbands or fathers. Overall, Estonias large pay gap reflects its economic sexism and the detrimental effects of gender inequality on women.Gender inequality in Estonia has also take to social prejudice against women. Since Estonias internalization into the Soviet due north, gender roles have been deeply ceremonious into Estonian society. These gender roles dictate what women are allowed to do and what small spheres of figure ou t they have on economics, government, and politics. Gender roles have also inevitably led to sexism The relationship between men and women on a societal level represents relationship with unequal power distribution, where men dominate and women are subordinated or under-represented in most spheres of life. (Morten para. 6). The social dominance of men stems from Estonias incorporation into the Soviet Union in 1940.During this period, Estonias once Western attitudes and views on gender equality shifted to Soviet-centered beliefs, which emphasized the importance of submissive women who served men. Although the Soviet Union often used feminist propaganda to encourage women to work, women were frequently treated below the belt at home and in society. The gender roles established during the Soviet Union era continue to play a major role in Estonias society today. Gender inequality is prevalent in both(prenominal) the household, where men are expected to exert dominance over their wiv es, and in social gatherings, where womens opinions are held in lower esteem (Domsch 148). In summary, gender inequality in Estonia has led to social discrimination against women. some other major result of gender inequality is the political prejudice that Estonian women face. After World War II, a period in which Estonia was politically and economically run by women due to a lack of men, the communist Party reestablished men in the ruling bodies of Estonia. During this period, Estonian women were removed from politics and their political power was undermined. Very recently, some attempts have been made to sour the political gender inequality problem. In 2004, the government passed the Gender Equality Act to ensure that women had equal political power and economic stability (Domsch 127). However, many of the rights guaranteed in the Gender Equality Act were pre-existent in the Constitution of Estonia. In practice, women have yet to see true equality in political or economic aspec ts.For example, a recent meditate showed that roughly 8% of Estonian government positions are held by women, part only 20% of parliament members are women (Morten para. 4). The small percentage of women in Estonias government directly reflects on the sexism in Estonian politics. Estonias male and female populations, though equal in size, are not equally politically represented, as shown by the clearly imbalanced gender ratio in their government. Overall, although small steps have been made toward gender equity, sexism and gender inequality are still widely extant, and have led to comparatively less political empowerment for Estonian women.Although womens rights have been improved internationally, many countries still face challenges in establishing true gender equality. Estonia currently faces significant problems for women in many major aspects of society. Originating from Estonias incorporation into the Soviet Union after World War II, gender stereotypes have negatively affected Estonian women to this day. With one of the largest pay gaps between men and women in Europe, Estonia has a significantly imbalanced gender ratio for employment. Furthermore, sexism has also led to the diminished social and political power of women in Estonian society. Despite the recent improvements that have been made by the Estonian government in the past decade, the economic, social, and political opportunities of Estonian women are still mischievously limited by gender inequality.

Tetewterwtfete

Ms. Czapskis 1st, 2nd, 5th, and 6th Hour Advanced organization English Language and Composition Classes Name __________________________________________ Hour ________ Date _____________________ trigger to Writing the Precis DIRECTIONS Please thoughtfully answer each of the interest points ab kayoed Geoffrey Nunbergs The school of thought Schism How Much Wallop terminate a Simple vocalise Pack, Ellen Goodmans In Praise of a Snails Pace, and Ronald J. Glassers We be non Immune Influenza, SARS, and the dampen of Public Health. You whitethorn write directly on this civilisesheet.For Geoffrey Nunbergs The Ism Schism How Much Wallop Can a Simple Word Pack 1. ) What is the complete teleph integrity of the author of this article? _____________________ 2. ) Who is this author? What argon his/her expertise in relation to this topic? What is his/her buzz off with this topic? How did he/she gain his/her association to make up this article? practice a con show to answer this qu estion ____________________________________________________________ ______________________ 3. ) What is the genre of this turn over (what type of write is it)? ________________________________________ 4. ) What is the complete title of the work? _______________________________________________________ 5. ) What is the publication visualize of this piece of write? _____________________________________________ 6. ) Is any other enkindle or illustrious publication entropy included? If so, what? ___________________ 7. ) Please usance a rhetorically accurate verb ( much(prenominal) as assert, argue, suggest, imply, claim, etc. ) and a THAT article containing the major impudence (thesis disputation) more or less the work. stay off the use of more commonplace words such as writes and states. The THAT clause is designed to demand a complete statement a grammatic subject (the topic of the essay) and exclaim (the claim that is do somewhat that topic). If the THAT clause is n ot employed, you will break off up allowing closely and how to slip out in stating the thesis i. e. , Sheridan baker writes about attitudes in writing or states how attitudes affect writing &8212 incomplete of which reports what he claims to be true about attitudes. _________________________________________________ ____________________________________________________________ __________________________ 8. ) Explain how the author develops and/or supports the thesis, preferably in chronological set out identifying the writing techniques he/she utilise to achieve this. sometimes it kit and boodle vanquish to report the tack together of victimization The author develops this program line first, by applying these techniques to devil poems second, by providing definitions and third, by explaining the taradiddle of each approach. A more superior general statement may similarly work in the second objurgate The author develops this idea by comparing and tell apart the live s of these two courtly War heroes. In works of literature you may provide a short plot synopsis Hemingway develops this idea through a slender narrative about the initiation of a young boy who observes in wholeness night both a birth and a death. ________________________________________________________ ____________________________________________________________ __________________________ 9. What is the authors app arent intend of this piece (introduce with the infinitive to)? Try not to simply echo the thesis The authors mathematical function is to prove that Remember that ones get is always to ordinate forward a thesis, precisely there are others as well. The infinitive to dialect should transcend a phrase such as Her purpose is to communicate look beyond such a simple response to pass judgment what the author wants the auditory modality to do or to know as a result of reading the work. ____________________________________________ ______________________________ ______________________________ _________________________ 10. ) Provide a verbal description of the intended audience and/or the relationship the author establishes with the audience. Ask yourself how the terminology of the work excludes sealed audiences (non-specialists would not escort the terminology children would not understand the irony) in order to see that the author did make certain assumptions about the pre-existing knowledge of the audience. You may also report the authors tone. ____________________________________________________________ ________________ ___________________________________________________________ _________________________ For Ellen Goodmans In Praise of a Snails Pace 1. ) What is the complete name of the author of this article? __________________________________________ 2. ) Who is this author? What are his/her expertise in relation to this topic? What is his/her experience with this topic? How did he/she gain his/her knowledge to compose this article? Use a short phrase to answer this question ____________________________________________________________ ______________________ 3. What is the genre of this work (what type of writing is it)? _________________________________________ 4. ) What is the complete title of the work? _______________________________________________________ 5. ) What is the publication date of this piece of writing? _____________________________________________ 6. ) Is any other interesting or noteworthy publication information included? If so, what? ___________________ 7. ) Please use a rhetorically accurate verb (such as assert, argue, suggest, imply, claim, etc. ) and a THAT clause containing the major assertion (thesis statement) about the work.Avoid the use of more general words such as writes and states. The THAT clause is designed to demand a complete statement a grammatical subject (the topic of the essay) and predicate (the claim that is made about that topic). If the THAT clause is not employed, you will end up allowing about and how to slip out in stating the thesis i. e. , Sheridan Baker writes about attitudes in writing or states how attitudes affect writing &8212 neither of which reports what he claims to be true about attitudes. _________________________________________________ ____________________________________________________________ __________________________ 8. ) Explain how the author develops and/or supports the thesis, preferably in chronological order identifying the writing techniques he/she utilized to achieve this. Sometimes it works best to report the order of development The author develops this assertion first, by applying these techniques to two poems second, by providing definitions and third, by explaining the history of each approach. A more general statement may also work in the second sentence The author develops this idea by comparing and contrasting the lives of these two Civil War heroes. In works of literature you may provide a short plot s ummary Hemingway develops this idea through a sparse narrative about the initiation of a young boy who observes in one night both a birth and a death. ________________________________________________________ ____________________________________________________________ __________________________ 9. What is the authors apparent purpose of this piece (introduce with the infinitive to)? Try not to simply restate the thesis The authors purpose is to prove that Remember that ones purpose is always to put forward a thesis, but there are others as well. The infinitive to phrase should transcend a phrase such as Her purpose is to inform look beyond such a simplistic response to assess what the author wants the audience to do or to feel as a result of reading the work. ____________________________________________ ____________________________________________________________ _________________________ 10. ) Provide a description of the intended audience and/or the relationship the author estab lishes with the audience. Ask yourself how the language of the work excludes certain audiences (non-specialists would not understand the terminology children would not understand the irony) in order to see that the author did make certain assumptions about the pre-existing knowledge of the audience. You may also report the authors tone. ____________________________________________________________ ________________ For Ronald J.Glassers We are not Immune Influenza, SARS, and the Collapse of Public Health 1. ) What is the complete name of the author of this article? __________________________________________ 2. ) Who is this author? What are his/her expertise in relation to this topic? What is his/her experience with this topic? How did he/she gain his/her knowledge to compose this article? Use a short phrase to answer this question ____________________________________________________________ ______________________ 3. ) What is the genre of this work (what type of writing is it)? _____ ___________________________________ 4. ) What is the complete title of the work? _______________________________________________________ 5. ) What is the publication date of this piece of writing? _____________________________________________ 6. ) Is any other interesting or noteworthy publication information included? If so, what? ___________________ 7. ) Please use a rhetorically accurate verb (such as assert, argue, suggest, imply, claim, etc. ) and a THAT clause containing the major assertion (thesis statement) about the work.Avoid the use of more general words such as writes and states. The THAT clause is designed to demand a complete statement a grammatical subject (the topic of the essay) and predicate (the claim that is made about that topic). If the THAT clause is not employed, you will end up allowing about and how to slip out in stating the thesis i. e. , Sheridan Baker writes about attitudes in writing or states how attitudes affect writing &8212 neither of which repor ts what he claims to be true about attitudes. _________________________________________________ ____________________________________________________________ __________________________ 8. ) Explain how the author develops and/or supports the thesis, preferably in chronological order identifying the writing techniques he/she utilized to achieve this. Sometimes it works best to report the order of development The author develops this assertion first, by applying these techniques to two poems second, by providing definitions and third, by explaining the history of each approach. A more general statement may also work in the second sentence The author develops this idea by comparing and contrasting the lives of these two Civil War heroes. In works of literature you may provide a short plot summary Hemingway develops this idea through a sparse narrative about the initiation of a young boy who observes in one night both a birth and a death. ______________________________________________ __________ ____________________________________________________________ __________________________ 9. ) What is the authors apparent purpose of this piece (introduce with the infinitive to)?Try not to simply restate the thesis The authors purpose is to prove that Remember that ones purpose is always to put forward a thesis, but there are others as well. The infinitive to phrase should transcend a phrase such as Her purpose is to inform look beyond such a simplistic response to assess what the author wants the audience to do or to feel as a result of reading the work. ____________________________________________ ____________________________________________________________ __________________________

Inflation Is Assumed

lump is assumed Chapter 1 True / False Questions 1. Inflation is assumed to be a temporary worry that does non arrogate fiscal decisions. delusive 2. financial pileus is composed of long- enclosure kit and caboodle and equipment, as well as other tangible coronations. off 3. aft(prenominal)ward(prenominal)-hoursst enceinte is composed of long-term plant and equipment. straight 4. During the 1930s, fiscal utilisation revolved around such(prenominal) topics as the preservation of swell, maintenance of liquidity, shake-up of financi on the wholey troubled stomachs and bankruptcy. rightful(a) 5. In the mid 1950s, finance began to revision to a much analytical, decision-oriented approach. accepted 6. Recently, the emphasis of financial wariness has been on the descent amongst risk and unsay. legitimate 7. The most parking lot partnership presidency activity carries limited liability to the partners. sullen 8. In terms of revenues and makes, the quite a little is by far the most important figure of business organization in the United States. true up 9. Dividends compensable to corpo crop timeworntakingholders learn already been tax revenueed bingle time as corporate income. trustworthy 10. One advantage of the corporate mould of organization is that income received by assembly lineholders is non dutiable since the corpo proportionalityn already stipendiary taxes on the income distri saveed. fictional 11. A corpo proportionalityn must arouse more than 75 breedholders to qualify for Subchapter S designation. dishonorable 12. doughs of a Subchapter S corporation ar taxed at corporate tax rates. nonsensical 13. corporate governance issues have become less important to the financial participation during the first decade of the new millennium. FALSE 14. government agency Theory examines the blood between companies and their customers. FALSE 15. A major(ip) focus of the Sarbanes Oxley modus operandi is to trad e name sure that frequently traded companies accurately present their assets, liabilities and income in their financial masterys.TRUE 16. The Sarbanes Oxley personation is primarily intended to increase human race scrutiny of private companies that had anteriorly been exempt from m either public disclosure requirements. FALSE 17. Timing is non a particularly important consideration in financial decisions. FALSE 18. Maximizing the salary of the pixilated is the goal of financial trouble. FALSE 19. Insider work involves the wasting disease of instruction non available to the general public to gear up stipends from profession in a companys line of descent. TRUE 20. pecuniary grocery stores experience as a vast global topwork of individuals and financial institutions that may be lenders, borrowers, or throwers of public companies cosmeawide. TRUE 21. bills markets refer to those markets dealing with short-run securities having a life of whizz class or les s. TRUE 22. Money markets refer to markets where excess corporate exchange is exchanged for outside currencies that end earn a high return than domestic money. FALSE 23. crownwork markets refer to those markets dealing with short-term securities having a life of one category or less. FALSE 24. The simple market includes the sale of securities by modal set of initial public offerings.TRUE 25. High quality initial public offerings atomic number 18 usu exclusivelyy sell in a primary market, such as the bleak York threadbare Exchange. However, low-quality storages must usu in ally be interchange in alternate markets, such as NASDAQ. FALSE 26. Although NASDAQ is a supplementary market, whatsoever of the business degradeds traded there, such as Microsoft, ar large enough to move to the primary market if they so desire. FALSE 27. The secondary market characteristically has had still legal injurys over the chivalric 20 years. FALSE 28. In the United States, trites s old on either the New York store Exchange or NASDAQ be considered sold in the primary market.FALSE 29. New issues argon sold in the secondary market. FALSE 30. Existing securities be traded in the secondary market. TRUE 31. Many companies have cross- runed their rake on multiple internationalist pullulate exchanges and more than several hundred remote companies have listed their functions on the New York Stock Exchange. TRUE 32. Financial management requires some(prenominal) short-term activities as well as long-term planning such as bringing up funds. TRUE Multiple Choice Questions 33. What is the primary goal of financial management? A. incrementd payment B. Maximizing hard exchange attend C. Maximizing habitualplaceholder wealthD. Minimizing risk of the bulletproof 34. In the past, the study of finance has included A. mergers and acquisitions. B. raising heavy(p). C. bankruptcy. D. all of these. 35. Professor Merton Miller received the Nobel prize in frugal science for his work on A. dividend policy. B. chargement theory. C. works superior management. D. jacket coordinate theory. 36. Professors Harry Markowitz and leaveiam Sharpe received their Nobel prize in economics for their contributions to the A. options pricing model. B. theories of working capital management. C. theories of risk-return and portfolio theory. D. heories of international capital budgeting. 37. Proper risk-return management means that A. the libertine should take as few risks as possible. B. the steady must pick up an appropriate trade-off between risk and return. C. the whole should earn the highest return possible. D. the firm should cling to future pelfs more highly than authoritative emoluments. 38. One of the major disadvantages of a sole proprietary is A. that there is limitless liability to the owner. B. the simplicity of decision making. C. low organizational tolls. D. low run approachs. 39. One of the major advantages of a sole propriet orship is A. hat the owner has limited liability. B. that old-hat in the proprietorship rear end be comfortably transferred. C. that it is exempt from many tax rules that would otherwise apply when employees atomic number 18 leased by the firm. D. low operate appeals. 40. The partnership mannikin of an organization A. avoids the divalent taxation of allowance and dividends form in the corporate form of organization. B. usually provides limited liability to the partners. C. has unlimited life. D. simplifies decision making. 41. A corporation is A. possess by line of productsholders who enjoy the privilege of limited liability. B. easily divisible between owners.C. a specialise legal entity with perpetual life. D. all of these. 42. With a Subchapter S corporation A. income is taxed as direct income to personal line of creditholders. B. line of merchandiseholders have the same liability as members of a partnership. C. the number of stockholders is unlimited. D. life of the corporation is limited. 43. A Subchapter S corporation A. is similar to a partnership in that is carries unlimited liability. B. is a separate legal entity which is treated like a normal corporation. C. has all the organizational benefits of a corporation and its income is alone taxed once. D. all of these. 44.Corporate governance is the A. relationship and enjoyment of oversight by the puppet panel of directors of the company. B. relationship between the of import financial officer and institutional investors. C. operation of a company by the chief executive officer (CEO) and other senior executives on the management team. D. governance of the company by the board of directors with a focus on cordial responsibility. 45. Many companies such as Tyco, Enron, and WorldCom that suffered financial distress in the late 1990s and early 2000s, A. committed fraud. B. had failed corporate governance oversight. C. went bankrupt. D. ll of these argon true. 46. Agency theory examines t he relationship between the A. allotholders of the firm and the firms investment banker. B. owners of the firm and the managers of the firm. C. board of directors and large institutional investors. D. fortuneholders and the firms transfer means. 47. Agency theory would imply that conflicts are more likely to occur between management and shareholders when A. the company is owned and operated by the same person. B. management acts in the best chases of increase shareholder wealth. C. the chairman of the board is also the chief executive officer (CEO). D. he board of directors exerts unafraid and involved oversight of management. 48. Agency problems are least(prenominal) likely to arise in which organizational form? A. sole proprietorship B. limited partnership C. corporation D. subchapter S corporation 49. Institutional investors are important in todays business world because A. as large investors they have more say in how businesses are managed. B. they have a fiduciary respo nsibility to the workers and investors that they mean to see that the firms they own are managed in an honourable way. C. as a group they can vote large blocks of stock for the election of board members.D. all of these. 50. The change magnitude shareageage ownership of public corporations by institutional investors has A. had no exercise on corporate management. B. created higher returns for the stock market in general. C. created more pressure on public companies to manage their firms more goodly. D. taken away the voice of the individual investor. 51. The Sarbanes-Oxley cause was passed in an effort to A. protect small business from large corporations ascendent the market. B. ensure that partnerships divide internets among partners in a fair manner. C. fasten outside auditors can control corporate accounting practices.D. control pervert corporate behavior. 52. Maximization of shareholder wealth is a concept in which A. change magnitude earnings is of primary importanc e. B. profits are maximized on a quarterly basis. C. virtually all earnings are give as dividends to e very(prenominal)day stockholders. D. optimally increasing the long-term treasure of the firm is emphasized. 53. Which of the next is not a true financial statement about the goal of maximizing shareholder wealth? A. It takes into account the timing of hard change-flows. B. It is a short-run orchestrate of view which takes risk into account. C. It considers risk as a factor. D. None of these. 54.Insider handicraft occurs when A. someone has development not available to the public which they use to profit from trading in stocks. B. corporate officers barter for stock in their company. C. lawyers, investment bankers, and others buy crude stock in companies represented by their firms. D. any stock transactions occur in violation of the Federal job Commissions restrictions on monopolies. 55. The major difficulty in most insider-trading cases has been A. that lenient resolv e have simply released the guilty individuals. B. that insider trading, even though illegal, actually serves a beneficial economic and financial purpose.C. that inside trades have not been licitly well defined. D. inside trades actually have a beneficial effect on the wealth of all stockholders. 56. Money markets would include which of the quest securities? A. common stock and corporate alignments. B. treasury bills and commercial paper. C. certificates of deposit and favorent stock. D. all of these. 57. Capital markets do not include which of the interest securities A. common stock B. commercial paper C. government bonds D. prefer stock 58. When a corporation uses the financial markets to lift new funds, the sale of securities is made in the A. rimary market. B. secondary market. C. on-line market. D. third market. 59. Corporate restructuring has been one firmness of more institutional ownership. Restructuring can cause A. changes in the assets and liabilities of the firm. B. the sale of low-profit strand divisions. C. the removal of afoot(predicate) management and/or large reductions in the workforce. D. all of these. 60. The internationalization of the financial markets has A. allowed firms such as McDonalds to raise capital around the world. B. raised the cost of capital. C. forced companies to price everything in U. S. dollars. D. all of these. Chapter 2True / False Questions 61. The income statement is the major device for measuring the profitability of a firm over a period of time. TRUE 62. The income statement measures the increase in the assets of a firm over a period of time. FALSE 63. Operating profit is fundamentally a measure of how efficient management is in generating revenues and controlling costs. TRUE 64. Accounting income is based on verifiably completed transactions. TRUE 65. The P/E ratio is pissedly related to the past performance of the firm. FALSE 66. When a firm has a sharp drop off in earnings, its P/E ratio may be artifi cially high. TRUE 67.The reliable nourish of a firm is the same from an economic and accounting perspective. FALSE 68. A balance sheet represents the assets, liabilities, and owners virtue of a company at a given point in time. TRUE 69. The investments account represents a commitment of funds of at least one year or more. TRUE 70. Asset accounts are listed in order of their liquidity. TRUE 71. compile wear and tear shows up in the income statement. FALSE 72. Total assets of a firm are financed with liabilities and stockholders truth. TRUE 73. record have got set per share and market quantify per share are usually the same dollar keep down. FALSE 74. maintain respect per share is of greater concern to the financial manager than market value per share. FALSE 75. Book value is equal to net expenditure. TRUE 76. equity is a measure of the monetary contributions that have been made directly or indirectly on behalf of the owners of the company. TRUE 77. Stockholders equity i s equal to liabilities plus assets. FALSE 78. well-kept earnings shown on the balance sheet represents available capital on hand generated from prior years earnings but not nonrecreational out in dividends. FALSE 79. Retained earnings represent the firms additive earnings since inception, minus dividends and other gear upments.TRUE 80. The statement of cash flows helps measure how the changes in a balance sheet were financed between two time periods. TRUE 81. Cash flow is equal to earnings earlier taxes minus depreciation. FALSE 82. An increase in an asset represents a reference handwriting of funds. FALSE 83. apply that two companies both have Net Income of $100,000. The firm with the highest depreciation outlay result have the highest cash flow, assuming all other adjustments are equal. TRUE 84. An increase in inventory represents a rootage of funds. FALSE 85. An increase in a liability account represents a source of funds on the cash flow statement.TRUE 86. An increase in accounts due represents a reduction in cash flows from operations. TRUE 87. An increase in accounts payable represents a reduction in cash flows from operations. FALSE 88. The corrupt of a new factory would pare the cash flows from investment activities on the statement of cash flows. TRUE 89. The sale of corporate bonds held by the firm as a long-term investment would increase cash flows from investing activities on the statement of cash flows. TRUE 90. Paying dividends to common shareholders result not affect cash flows from financing activities. FALSE 91.The sale of a firms securities is a source of funds, whereas the requital of dividends is a use of funds. TRUE 92. dispraise is an accounting entry and does not involve a cash disbursement. TRUE 93. Free cash flow is equal to cash flow from operating(a) activities minus necessary capital expenditures and normal dividend payments. TRUE 94. An increase in accounts receivable results in a cash inflow on the statement of cash flows. FALSE 95. A descend in bonds payable results in a cash barrage on the statement of cash flows. TRUE 96. An increase in accrued disbursements results in a cash outflow on the statement of cash flows.FALSE Multiple Choice Questions 97. Which of the following is not one of the three basic financial statements? A. Income relation B. educational activity of Retained cabbage C. Statement of Cash Flows D. rest period Sheet 98. Which of the following is not subtracted out in arriving at operating income? A. interest disbursal B. cost of cheeseparings sold C. depreciation D. exchange and administrative expense 99. Increasing interest expense will have what effect on EBIT? A. increase it B. decrease it C. no effect D. not enough breeding to tell 100. The remainder income of the firm belongs to A. creditors. B. preferent stockholders.C. common stockholders. D. bondholders. 101. whollyen Lumber Company had earnings after taxes of $580,000 in the year 2006 with 400,000 shares outstanding on declination 31, 2006. On January 1, 2007, the firm issued 35,000 new shares. Because of the proceeds from these new shares and other operating improvements, 2007 earnings after taxes were 25 percent higher than in 2006. winnings per share for the year-end 2007 was A. $1. 67 B. $1. 45 C. $1. 81 D. None of these 102. Consider the following information for Ball Corp. pic What is the Operating Profit for Ball Corp? A. $71,450 B. $90,000 C. 120,000 D. None of these 103. sugarcoat Company had sales of $240,000 and cost of honourables sold of $108,000. What is the gross profit margin (ratio of gross profit to sales)? A. 75% B. 55% C. 73. 3% D. None of these 104. meanness Farms, Inc. had sales of $500,000, cost of in force(p)s sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? A. $170,000 B. $230,000 C. Less than $170,000 D. None of these 105. Elgin bombing Manufacturers h ad sales of $900,000 in 2006 and their cost of goods sold represented 65 percent of sales. selling and administrative expenses were 9 percent of sales. depreciation expense was $10,000 and interest expense for the year was $8,000. The firms tax rate is 30 percent. What is the dollar amount of taxes give? A. $151,200 B. $145,800 C. More than $151,800 D. None of these 106. A firm with earnings per share of $5 and a price-earnings ratio of 15 will have a stock price of A. $20. 00 B. $75. 00 C. $3. 00 D. the market assigns a stock price independent of EPS and the P/E ratio. 107. requital per share is A. operating profit divided by number of shares outstanding. B. et income divided by number of shares outstanding. C. net income divided by stockholders equity. D. net income minus preferred dividends divided by number of shares outstanding. 108. Reinvested funds from retain earnings theoretically belong to A. bond holders. B. common stockholders. C. employees. D. all of these. 109. The firms price-earnings (P/E) ratio is influenced by its A. capital structure. B. earnings volatility. C. sales, profit margins, and earnings. D. all of these. 110. Which of the following factors do not influence the firms P/E ratio A. past earnings. B. shares outstanding.C. volatility in performance. D. no(prenominal) of these. 111. Which of the following would not be sort out ad as a on-going asset? A. commercialiseable securities B. Investments C. Prepaid expenses D. breed 112. An item which may be converted to cash within one year or one operating cycle of the firm is classified as a A. current liability. B. long-term asset. C. current asset. D. long-term liability. 113. Which of the following would not be included in the balance sheet investment account? A. stocks of other corporations B. long term government bonds C. marketable securities D. investments in other corporations 14. Which of the following is not a primary source of capital to the firm? A. assets B. common stock C. preferred stock D. bonds 115. The major limitation of financial statements is A. in their complexity. B. in their lack of comparability. C. in their use of historical cost accounting. D. in their lack of detail. 116. Net worth is equal to stockholders equity A. plus dividends. B. minus preferred stock. C. plus preferred stock. D. minus liabilities. 117. Book value is the same as A. stockholders equity. B. contumacious assets minus long-term debt. C. net worth. D. current assets minus current debt. 118.Total stockholders equity consists of A. preferred stock and common stock. B. common stock and retain earnings. C. common stock and capital paid in excess of par. D. preferred stock, common stock, capital paid in excess of par and retained earnings. 119. The net worth of a firm A. is usually the same as the firms market value. B. is based on current asset costs. C. is based on current liabilities. D. none of these. 120. The orientation of countersign value per share is _______ ___, while the orientation of market value per share is ___________. A. short term, long term B. future, historical C. historical, future D. ong term, short term 121. A statement of cash flows allows a financial analyst to meet A. whether a cash dividend is affordable. B. how increases in asset accounts have been financed. C. whether long-term assets are being financed with long-term or short-term financing. D. all of these. 122. A firms leveraging of plant and equipment would be considered a A. use of cash for financing activities. B. use of cash for operating activities. C. source of cash for investment activities. D. use of cash for investment activities. 123. dispraise is a source of cash inflow because A. it is a tax-deductible non-cash expense.B. it supplies cash for future asset purchases. C. it is a tax-deductible cash expense. D. it is a taxable expense. 124. disparagement tends to A. increase cash flow and decrease income. B. decrease cash flow and increase income. C. a ffect only cash flow. D. affect only income. 125. Given the following, what is free cash flow? pic A. $115,000. B. $235,000. C. $185,000. D. $165,000. 126. expect a tax rate of 35%, depreciation expenses of $400,000 will A. reduce income by $140,000. B. reduce taxes by $140,000. C. reduce taxes by $400,000. D. have no effect on income or taxes, since depreciation is not a cash expense. 27. Assuming a tax rate of 30%, the after-tax cost of interest expense of $200,000 is A. $60,000 B. $140,000 C. $200,000 D. $120,000 128. Assuming a tax rate of 40%, the after-tax cost of a $200,000 dividend payment is A. $200,000 B. $70,000 C. $130,000 D. none of these. 129. Farah Snack Co. has earnings after taxes of $128,750. Interest expense for the year was $20,000 preferred dividends paid were $18,750 and common dividends paid were $30,000. Taxes were $15,000. The firm has 100,000 shares of common stock outstanding. scratch per share on the common stock was A. $0. 90 B. $1. 10 C. $0. 5 D. $0. 80 130. Gerry Co. has a gross profit of $880,000 and $360,000 in depreciation expense. marketing and administrative expense is $120,000. Given that the tax rate is 40 percent, compute the cash flow for Gerry Co. A. $456,000 B. $240,000 C. $600,000 D. None of these 131. Hoover Inc. has current assets of $360,000 and unbending assets of $640,000. menstruation liabilities are $90,000 and long-term liabilities are $160,000. There is $90,000 in preferred stock outstanding and the firm has issued 10,000 shares of common stock. Compute apply value (net worth) per share A. $84. 00 B. $66. 00 C. $75. 00D. None of these 132. The best indication of the operational efficiency of management is A. net income. B. earnings per share. C. earnings ahead interest and taxes (EBIT). D. gross profit. 133. A corporation can increase their earnings per share by A. increasing tax-deductible expenses B. increasing Treasury stock C. decreasing depreciation D. decreasing retained earnings From End of the Chapter 2 Problems 5. Given the following information, prepare, in good form, an income statement for Goodman Software, Inc. Selling and administrative expense$ 50,000 Depreciation expense80,000 Sales400,000Interest expense30,000 appeal of goods sold150,000 Taxes18,550 2-5. resolution Goodman Software, Inc. Sales$ 400,000 damage of goods sold 150,000 rude Profit250,000 Selling and administrative expense50,000 Depreciation expense 80,000 Operating profit120,000 Interest expense 30,000 wages before taxes90,000 Taxes 18,550 stipend after taxes$ 71,450 6. Given the following information prepare in good form an income statement for the Kid endocarp and Gravel Company. Selling and administrative expense$ 60,000 Depreciation expense70,000 Sales470,000 Interest expense40,000 Cost of goods sold140,000Taxes45,000 2-6. stem Kid Rock and Gravel Co. Income Statement Sales$ 470,000 Cost of goods sold$ 140,000 Gross profit$ 330,000 Selling and administrative expense$ 60,000 Depreciation ex pense$ 70,000 Operating profit$ 200,000 Interest expense$ 40,000 lucre before taxes$ 160,000 Taxes$ 45,000 Earnings after taxes$ 115,000 7. curry in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales$600,000 Shares outstanding100,000 Cost of goods sold200,000 Interest expense30,000 Selling and administrative expense40,000Depreciation expense20,000 Preferred stock dividends80,000 Taxes100,000 2-7. Solution Virginia Slim Wear Income Statement Sales$600,000 Cost of goods sold 200,000 Gross profit400,000 Selling and administrative expense40,000 Depreciation expense 20,000 Operating profit340,000 Interest expense 30,000 Earnings before taxes310,000 Taxes 100,000 Earnings after taxes210,000 Preferred stock dividends80,000 Earnings available to common stockholders130,000 Shares outstanding100,000 Earnings per share$ 1. 30 8. Prepare in good form an income statement for Franklin Kite Co. , Inc.Take your calculati ons all the way to computing earnings per share. Sales$900,000 Shares outstanding50,000 Cost of goods sold400,000 Interest expense40,000 Selling and administrative expense60,000 Depreciation expense20,000 Preferred stock dividends80,000 Taxes50,000 2-8. Solution Franklin Kite Company Income Statement Sales$900,000 Cost of goods sold400,000 Gross profit500,000 Selling and administrative expense60,000 Depreciation expense20,000 Operating profit$420,000 Interest expense40,000 Earnings before taxes$380,000 Taxes50,000 Earnings after taxes$330,000 Preferred stock dividends80,000Earnings available to common stockholders250,000 Shares outstanding50,000 Earnings per share$5. 00 9. Lasar Technology, Inc. , had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? Set this problem up as a partial income statement, and determine depreciation expenses as the plug figure. 2-9. Solution Lasar Technology, Inc. Sales$500,000 Cost of goods sold $180,000 Gross Profit$320,000 Selling and administrative expense70,000 Depreciation Expense (plug figure) 160,000Operating profit$ 90,000 10. The Ace Book Company sold 1,500 finance textbooks for $185 individually to High Tuition University in 2008. These books cost Ace $145 to produce. Ace spent $10,000 (selling expense) to convince the university to buy its books. In addition, Ace borrowed $80,000 on January 1, 2008, on which the company paid 10 percent interest. Both interest and principal of the loan were paid on December 31, 2008. Aces tax rate is 25 percent. Depreciation expense for the year was $15,000. Did Ace Book Company make a profit in 2008? Please verify with an income statement presented in good form. -10. Solution Ace Book Company Sales (1,500 books at $185 each)277,500 Cost of goods sold (1,500 books at $145 each) 217,500 Gross Profit60,000 Selling expense10,000 Depreciation expense 15,000 Operating p rofit35,000 Interest expense 8,000 Earnings before taxes27,000 Taxes 25% 6,750 Earnings after taxes20,250 11. Carr Auto Wholesalers had sales of $900,000 in 2004 and their cost of goods sold represented 65 percent of sales. Selling and administrative expenses were 9 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $8,000.Thefirms tax rate is 30 percent. a. Compute earnings after taxes. b. pick out the firm hires Ms. Hood, an efficiency expert, as a consultant. She suggests that by increasing selling and administrative expenses to 12 percent of sales, sales can be increased to $1,000,000. The extra sales effort will also reduce cost of goods sold to 60 percent of sales (there will be a larger markup in prices as a result of more warring selling). Depreciation expense will remain at $10,000. However, more automobiles will have to be carried in inventory to satisfy customers, and interest expense will go up to $15,000.The firms tax rate will r emain at 30 percent. Compute revised earnings after taxes based on Ms. Hoods suggestions for Carr Auto Wholesalers. Will her ideas increase or decrease profitability? 2-11. Solution Carr Auto Wholesalers Income Statement a. Sales$ 900,000 Cost of goods old (65% of sales) 585,000 Gross Profit$ 315,000 Selling and administrative expense (9% of sales) 81,000 Depreciation 10,000 Operating profit 224,000 Interest expense 8,000 Earnings before taxes 216,000 Taxes 30% 64,800 Earnings after taxes $ 151,200 2-11. (Continued) b. Sales $1,000,000Cost of goods sold (60% of sales) 600,000 Gross profit 400,000 Selling and administrative expense (12% of sales) 120,000 Depreciation 10,000 Operating profit 270,000 Interest expense 15,000 Earnings before taxes 255,000 Taxes 30% 76,500 Earnings after taxes$ 178,500 Ms. Hoods ideas will increase profits. 15. elect slug pose has an operating profit or $200,000. Interest expense for the year was $10,000 preferred dividends paid were $18,750 and comm on dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding. . Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. b. What was the increase in retained earnings for the year? 2-15. Solution Elite Trailor Parks a. Operating profit (EBIT)$200,000 Interest expense 10,000 Earnings before taxes (EBT)$190,000 Taxes 61,250 Earnings after taxes (EAT)$128,750 Preferred dividends 18,750 Available to common stockholders$110,000 viridity dividends 30,000 improver in retained earnings$80,000 pic Dividends per Share = $30,000/20,000 shares = $1. 50 per share b. addition in retained earnings = $80,000 16.Johnson Alarm Systems had $800,000 of retained earnings on December 31, 2008. The company paid common dividends of $60,000 in 2008 and had retained earnings of $640,000 on December 31, 2007. How much did Johnson earn during 2008, and what would earnings per share be if 50,000 shares of common stock were out standing? 2-16. Solution Johnson Alarm Systems Retained earnings, December 31, 2008$800,000 Less Retained earnings, December 31, 2007 640,000 Change in retained earnings$160,000 Add Common stock dividends 60,000 Earnings available to common stockholders$220,000 Earnings per share pic 17.Mozart Music Co. had earnings after taxes of $560,000 in 2008 with 200,000 shares of stock outstanding. The stock price was $58. 80. In 2009, earnings after taxes increased to $650,000 with the same 200,000 shares outstanding. The stock price was $78. 00 a. Compute earnings per share and the P/E ratio for 2008. The P/E ratio equals the stock price divided by earnings per share. b. Compute earnings per share and the P/E ratio for 2009. c. Give a general explanation of why the P/E changed. 2-17. Solution Mozart Music Co. a. EPS (2008)pic = $2. 80 P/E Ratio (2008)= toll/EPS =pic = 21X b. EPS (2009)pic = $3. 5 P/E Ratio (2009)= Price/EPS=pic= 24X c. The stock price increased by 34% while EPS only increa sed 16. 1%. 20. Nova Electrics anticipated cash flow from operating activities of $6 million in 2008. It will need to spend $1. 2 million on capital investments in order to remain competitive within the industry. Common stock dividends are projected at $. 4 million and preferred stock dividends at $. 55 million. a. What is the firms projected free cash flow for the year 2008? b. What does the concept of free cash flow represent? 2-20. Solution Nova Electronics a. Cash flow from operations activities$6. 0 million Capital Expenditures1. 20 Common stock dividends. 40 Preferred stock dividends . 55 Free cash flow$3. 85 million b. Free cash flow represents the funds that are available for special financial activities, such as a leveraged buyout, increased dividends, common stock repurchases, acquisitions, or quittance of debt. 21. The Rogers mess has a gross profit of $880,000 and $360,000 in depreciation expense. The Evans lodge also has $880,000 in gross profit, with $60,000 in d epreciation expense. Selling and administrative expense is $120,000 for each company.Given that the tax rate is 40 percent, compute the cash flow for both companies. Explain the difference in cash flow between the two firms. 2-21. Solution Rogers Corporation Evans Corporation Rogers Evans Gross profit $880,000 $880,000 Selling and adm. expense 120,000 120,000 Depreciation 360,000 60,000 Operating profit $400,000 $700,000 Taxes (40%) 160,000 280,000 Earnings after taxes $240,000 $420,000 Plus depreciation expense $360,000 $60,000 Cash Flow $600,000 $480,000 Rogers had $300,000 more in depreciation which provided $120,000 (0. 40 ( $300,000) more in cash flow. 22. Horton Electronics has current assets of $320,000 and fixed assets of $640,000. Current liabilities are $90,000 and long-term liabilities are $160,000. There is $90,000 in preferred stock outstanding and the firm has issued 40,000 shares of common stock. Compute book value (net worth) per share. 2-22. Solu tion Horton Energy Company Current assets $320,000 Fixed assets 640,000 Total assets $960,000 Current liabilities 90,000 semipermanent liabilities 160,000 Stockholders equity $710,000 Preferred stock obligation 90,000 Net worth assigned to common $620,000 Common shares outstanding 40,000 Book value (net worth) per share $15. 50 23. The Holtzman Corporation has assets of $400,000, current liabilities of $50,000, and long-term liabilities of $100,000. There is $40,000 in preferred stock outstanding 20,000 shares of common stock have been issued. a. Compute book value (net worth) per share. b. If there is $22,000 in earnings available to common stockholders and Holtzmans stock has a P/E of 18 times earnings per share, what is the current price of the stock? c. What is the ratio of market value per share to book value per share? 2-23. Solution Holtzman Corporation a.Total assets $400,000 Current liabilities 50,000 Long-term liabilities 100,000 Stockholders equity $ 250,000 Preferred stock 40,000 Net worth assigned to common $210,000 Common shares outstanding 20,000 Book values (net worth) per share $10. 50 b. Earnings available to common $22,000 Shares outstanding 20,000 Earnings per share $1. 10 pic c.Market value per share (price) to book value per share $19. 80/$10. 50 = 1. 89 24. Bradley Gypsum Company has assets of $1,900,000, current liabilities of $700,000, and long-term liabilities of $580,000. There is $170,000 in preferred stock outstanding 30,000 shares of common stock have been issued. a. Compute book value (net worth) per share. b. If there is $42,000 in earnings available to common stockholders and Bradleys stock has a P/E of 15 times earnings per share, what is the current price of the stock? c. What is the ratio of market value per share to book value per share? 2-24. Solution Bradley Gypsum Company a.Total assets $1,900,000 Current liabilities 700,000 Long-term liabilities 580,000 Stockholders equity $ 620,0 00 Preferred stock 170,000 Net worth assigned to common $ 450,000 Common shares outstanding 30,000 Book values (net worth) per share $ 15. 00 b. Earnings available to common stockholders $ 42,000 Shares outstanding 30,000 Earnings per share $ 1. 40 pic c.Market value per share (price) to book value per share $21. 00/$15. 00 = 1. 40 Chapter 14 True / False Questions 148. Capital markets consist of securities having maturities greater than one year. TRUE 149. The capital structure of the firm consists of long-term debt and equity. TRUE 150. Capital markets are becoming increasingly international as investors and issuers seek out the best risk-return opportunities. TRUE 151. Upon entering the capital markets, an investor might invest in common stocks, preferred stock, negotiable certificates of deposit, and sofa bed securities. FALSE 152.In the last decade, the US has invested substantially more in orthogonal countries than foreign countries have invested back in the US. FALSE 153. Municipal securities are called tax exempt because no federal taxes must be paid on interest received. TRUE 154. The stock market far exceeds the bond market in terms of size of new capital raised. FALSE 155. The capital markets serve as a way of allocating available capital to the most efficient user. TRUE 156. The main reason for the small amount of financing with preferred stock is that dividends on preferred stock are not tax deductible as are interest paid on bonds. TRUE 157. Retained earnings account for the majority of familiarly generated corporate funds. FALSE 158.When an investor buys stock in the stock market, he is acquire shares from a company. FALSE 159. Internal funds generated by corporations include retained earnings and non cash expenses such as depreciation and deferred taxes. TRUE 160. Households and the government are mainly considered to be suppliers of funds while corporations are loosely considered users of funds. FALSE 161. Financial interm ediaries channel funds into the capital markets from the household sector. TRUE 162. Brokers on an organized stock exchange act as an agent for the person buying or selling securities. TRUE 163. Brokers actually own the securities they buy and sell on the floor of the exchange. FALSE 164.The NASDAQ National Market is composed of large nation-wide companies that are traded in the over-the-counter market. TRUE 165. The strong form of the efficient market hypothesis states that prices reflect all public information. FALSE 166. The efficient market hypothesis is generally concerned with the electrical shock of information on the behavior of stock prices. TRUE 167. The weak form of the efficient market hypothesis states that an investor can profit by development past price data. FALSE 168. Markets are efficient when prices adjust chop-chop to new information, continuous markets exist and large dollar trades can be absorbed without large price movements. TRUE 169.The Sarbanes-Oxley Act of 2002 holds the CEO lawfully accountable for the accuracy of their firms financial statements. TRUE 170. The Sarbanes-Oxley Act of 2002 holds a firms internal auditors legally accountable for the accuracy of their firms financial statements. FALSE 171. The future of the big board is uncertain due to their unwillingness to adapt to the increase in internationalization and electronic trading in the markets. FALSE Multiple Choice Questions 172. point of how global markets are linked was provided in 1997 and 1998 when international markets fight backed to A. the collapse of Asiatic currencies in Thailand, Indonesia, Malaysia and Korea. B. Russias default on its sovereign debt. C. Japans seven years of economic stagnation.D. a and b are true. 173. When global capital markets collectively react to international events like Russias default on its sovereign debt, it is common to befall A. that there is no impact on multinational companies ability to raise capital. B. an impact on th e ability to raise capital. C. that Wall Street firms are so diversified that they are not affected by this event. D. All of these are true. 174. Which of the following is not a money market instrument? A. Treasury bills B. Commercial paper C. Negotiable certificates of deposit D. Treasury bonds 175. ball-shaped capital markets are influenced by A. interest rates. B. investor confidence. C. elative economic growth. D. all of these. 176. Companies list their stock around the globe to A. capitalize on the inefficiency inherent in foreign markets. B. increase liquidity for their stockholders. C. provide opportunities for the sale of new stock in foreign countries. D. b and c are correct. 177. Foreign investors have preferred to invest in the United States due to all but one of the following reasons A. less stringent regulation of securities markets. B. political perceptual constancy of the U. S. government. C. the U. S. dollar is the worlds international currency. D. all of these are reasons that foreign investors prefer to invest in the United States. 178.With respect to the United States and its relationship with the rest of the world, it can be said that A. the U. S. has invested more dollars in the rest of the world than foreign countries have invested in the U. S. B. the U. S. has actively helped foreign countries finance their government deficits. C. foreign investors hold large positions in U. S. government securities. D. All of these. 179. Financial instruments in the capital markets generally fall under what category in the Balance Sheet? A. Short-term liabilities and equities. B. Long-term liabilities and equities. C. Near cash assets. D. None of these. 180. Corporations prefer bonds over preferred stock for financing their operations because A. referred stocks require a dividend. B. bond interest rates change with the economy while stock dividends remain constant. C. the after-tax cost of debt is less than the cost of preferred stock. D. none of thes e. 181. federally sponsored credit agencies include all but which of the following? A. Securities Investor Protection Corporation (SIPC) B. Federal Home Loan Banks (FHLB) C. Student Loan Marketing linkup (Sallie Mae) D. Federal National Mortgage Association (Fannie Mae) 182. Which of the following is an internal source of funds? A. Cash flow from depreciation (tax shield) B. Net loss C. repurchase of debt securities D. Bank loan 183.The major supplier of funds for investment in the whole economy is A. businesses. B. households. C. government. D. financial institutions. 184. Financial intermediaries serve which of the following purposes? A. Financial intermediaries allow for indirect investment in the capital markets by households. B. attending in the flow of funds through the economy. C. Help provide tryst of funds to the best investments. D. All of these. 185. Which of the following are benefits of financial intermediaries? A. Increase market liquidity B. Provide a direct market for investors C. Act as agents of the government D. Only a and b 186. The purpose of secondary trading is to A. rovide liquidity and competition between investments. B. provide a market to issue securities not handled in primary trading. C. provide jobs for brokers and dealers. D. provide freeze off commissions than on the organized exchanges. 187. The most important capital markets in the world (in terms of dollar value) are located in A. New York. B. London. C. Toronto. D. Tokyo. 188. Which Stock Exchange is known as the most liquid? A. NASDAQ B. AMEX C. CBOT D. big board 189. Middle to small size companies that are centered in one city or state would most likely be found on the A. NASDAQ National Market. B. NASDAQ Small Cap Market. C. Supplemental list. D. New York Stock Exchange. 190.The emergence of trading via ECNs has A. offer a unique advantage not offered by the NYSE B. lowered the cost of trading. C. made trading more difficult for small investors. D. all of these are tr ue. 191. Which of the following is not a criterion for an efficient market? A. Prices adjust rapidly to new information. B. epic dollar amounts of securities can be absorbed without price destabilization. C. Each sequential trade is made at a price well-nigh to the previous trade. D. Computerized handling of transactions. 192. Security markets are efficient when each of the following exist keep out A. security prices follow the leading indicators such as the DJIA very closely. B. he markets can absorb large dollar amounts of stock without destabilizing the price. C. prices adjust rapidly to new information. D. there is a continuous market where each successive trade is made at a price close to the previous trade. 193. The efficient market hypothesis deals primarily with A. random meditation in securities. B. the degree to which prices adjust to new information. C. degrees to which price movements are the result of past trends. D. how an investor can significantly outperform the market in general. 194. The efficient market hypothesis has several forms. The weak form states that A. past price data is misrelated to future prices. B. prices reflect all public information. C. ll information both public and private is immediately reflected in stock prices. D. none of these 195. Security markets provide liquidity A. by allowing corporations to raise funds by selling new issues. B. by creating a market in which owners may easily turn an investment into cash through its sale. C. a and b are both correct. D. neither a nor b are correct. 196. The semi-strong form of the efficient market hypothesis states that A. past price data is unrelated to future prices. B. prices reflect all public information. C. all information both public and private is immediately reflected in stock prices. D. none of these 197. The strong form of the efficient market hypothesis states that A. ast price data is positively correlated to future prices. B. prices reflect all public informatio n. C. all information both public and private is immediately reflected in stock prices. D. none of these 198. Security markets are affected by all of the following exclude A. interest rates B. global crises C. book values of equity D. emotions 199. Financial intermediaries include all of the following except A. commercial banks B. life insurance companies C. corporations D. pension plans 200. The purposes of security legislation include all of the following except A. protect against fraud B. ensure market efficiency C. reduce insider trading D. provide a global competitive advantage

James Wong Howe Essay

HOWE, JAMES WONG (1898-1975), photographer, cinematographer. Howe was born in Canton, China, in 1898 and came to the situate of Washington in 1904 with his p arnts. His original name was Wong Tung Jim, which he keep to procedure until 1922. He is recognized for his great camera work in the United States and for bringing new, revolutionary techniques to the camera world. Among his best known photographic innovations are the use of the wide-angle lens, deep focus, and ceilinged sets to give the claustrophobic feeling of being aboard ship.In 1947 he was also hotshot of the scratch cameramen to use a hand-held camera. In his innovative methods of cinematography he utilize roller skates and wheelchairs. Because of his artistic and revolutionary techniques Howe won Oscars for the films The lift Tatoo and Hud in 1957 and 1963, respectively. His other acclaimed films include Come Back Little Sheba, The break Angry Man, and The Old Man and the Sea. (Hyung-Chan Kim, 1986) Howe arrived in America aged fin and grew up in Pasco, Washington.Short (51) however stocky, he teach as a boxer and fought profession aloney as a teenager, but he was bascinated by picture taking Making his way to Los Angeles, he land a job with DeMilles unit at the Lasky Studios and worked his way up to camera assistant. Howe owed his break through with(predicate) to a happy change. Assigned to shoot stills of the sentiency Mary Miles Minter, he delighted her by making her eyes start dark. (The orthochromatic film of the time lightened blue eyes into blankness. ) Puzzled at first, Howe complete that disgraceful velvet drapes behind him had created the effect.Minter insisted he should shoot all her films, and rumours spread that she had imported her own Chinese cameraman who hid behind black velvet to work his magic. Howe was soon widely in demand. Luckily, the magician had more than than one trick up his sleeve. Imaginative and experimental, Howe was never content to swear on accepted techniques. He believed that a good cinematographer should be willing to gamble a little more. The normal thing is non really interesting its the unusual and sometimes even inadvertent things that are. Right to the end of his carrier he went on taking chances.Reacting against the flat, shadowless photography preferred by his directors. Howe set about exploring the creation of mood through the camera. To suggest the fantasy world of Peter Pan (1924) he used low-key lighting (a technique which for a while became so distinctive that he gained the nickname Low-Key Howe). He seized eagerly on devices to maturation camera mobility Mantrap (1926) was one of the first films to make extensive use of dolly-short. When sound it Hollywood Howe was in China trying to set up a film to direct.The project fell through, and when he returned to America he found himself tagged si add-era. Work was scarce until Howard Hawks chose him for The Criminal Code (1930). This get him a ii year contrac t with Fox where he lent The Power and the Glory (1933), a tycoons life-saga, a quasi-newsreel get a line that may have influenced Welless Citizen Kane (1941). There come abouted a stretching at MGM, creating dark, opulent interiors for Manhattan Melodrama (1934) and The Thin Man (1934), but Howe came under unvaried pressure from Cedric Gibbons, the studios design head, to over-light.Quitting, he visited England, where two fit out dramas, Fire over England (1936) and Under the Red Robe (1937). Were flattered by his warm, amative treatment. Returning to Hollywood, Howe freelanced for a while. The Prisoner of Zenda (1937) and Algiers (1938), moody and atmospheric, mark the culmination of his thirties black and white work The Adventures of Tom Sawyer (1938) was his first semblance feature Rejecting the brash tones beloved of Technicolor, Howe went for subdued, earthy colors befitting the wretched rural setting, to the alarm of Technicolors house cameraman Wilfred Cline.Howe simp ly cut Cline, and was banned from Technicolor films for the next twelve years. In 1938 Howe signed with Warners. The studio style, spirited and downbeat, should have suited his penchant for realism, but in the event he found Warners as restrictive as MGM. Their cut-price, fast-shooting methods outraged the perfectionist Howe, who liked to produce meticulously and take time to get things right. (Esther Mikyung Ghymn, 2000)Even so he achieved some fine work often in an expressionistic vein all high contrast and oppressive shadows to match melodramas like Kings words (1942) or Passage to Marseille (1944), besides the near-documentary look of Air Force (1943) and documental Burma (1945). Released from Warners, the ex-boxer captured some sweatily vivid fight scenes for Body and Soul (1947) by having himself pushed obese the ring on roller-skates. For the rest of his career Howe freelanced.Most of his colour films hear from this period, from the picture-book fantasy of Bell, Book and Candle (1958) to the muted subterranean shades of The mollie Maguires (1969). There was never a uniform Howe look the style, he insisted, whould aline to the story, but he preferred black and white, and his late masterpieces are all in monochrome Hud ( 1962), with its flat white Texan skies the tortured distortions of Seconds ( 1966) and the slick, glitzy night world of Sweet Smell of Success ( 1957). Howe was never light-colored to work with.Tireless and dedicated, he demanded equal dedication from his crews and, perhaps in reaction to the racial slurs he suffered all his life, adopted an autocratic memory access that risked alienating colleagues. Given an inexperienced director Howe would virtually take over, sometimes to the point of directing the actors, and even strong directors knew better than to cross him. however few doubted that whatever he did was for the sake of the story nor that he was, as Alexander Mackendrick put it, quite simply, the best.As stated earlier, Chinese Americans physical appearance alone has rendered them unassimilable throughout American history. Compounding this first barrier are the culture-specific traits of language, food, custom, and value. Popular presses continue to stigmatize Asiatic Americans as model minorities, which means that despite prejudice, this group has made it so others should follow suit and not complain. The reality is that visible Asians experience glass ceilings in the workplace and tuning out by whites in interpersonal communications. (David A. Cook, 1996)Success, for Asian Americans at least, does not readily dictate the ethnic persons cultural identity. This was what Frank Chin realized when he interviewed an award-winning Chinese American cinematographer and director From greeting us in the oldest homeliest Sze Yup Cantonese Id heard since Chinatown old James Wong Howe was a Chinaman. He took us out for Chinese food and ordered for everyone like a Chinaman. He got along with whites, was the genius of the most American art Hollywood movies and had two Oscars without losing any of his Chinese language, culture, or taste. (Vincent LoBrutto, 1999)

The Nuclear Age Begins

The first nuclear explosion, named Trinity, was trigger offd July 16, 1945. Main article muniment of nuclear weapons During the 1930s, innovations in physics made it apparent that it could be workable to organise nuclear weapons of incredible power using nuclear reactions. When adult male War II broke out, scientists and advisors among the Allies feared that Nazi Germany may corroborate been trying to progress its own atomic weapons, and the United States and the United land pooled their efforts in what became known as the Manhattan Project to beat them to it.At the secret Los Alamos lab in New Mexico, scientist Robert Oppenheimer led a team of the worlds top scientists to develop the first nuclear weapons, the first of which was tested at the Trinity settle in July 1945. However, Germany had surrendered in May 1945, and it had been discovered that the German atomic pelt program had not been very close to success. The Allied team produced ii nuclear weapons for use in th e war, one powered by uranium-235 and the advanced(prenominal) by plutonium as fissionable material, named Little Boy and fatness Man.These were dropped on the Japanese cities of Hiroshima and Nagasaki in August 1945. This, in gang with the Soviet entrance in the war, convinced the Japanese to surrender unconditionally. These two weapons remain the only two nuclear weapons ever used against otherwise countries in war. Nuclear weapons brought an entirely new and terrifying possibility to warfare a nuclear holocaust. While at first the United States held a monopoly on the production of nuclear weapons, the Soviet sum total, with some assistance from espionage, managed to detonate its first weapon (dubbed Joe-1 by the West) in August 1949.The post-war relations between the two, which had already been deteriorating, began to rapidly disintegrate. Soon the two were locked in a abundant stockpiling of nuclear weapons. The United States began a crash-program to develop the first hen ry bomb in 1950, and detonated its first nuclear weapon in 1952. This new weapon was alone over 400 times as goodly as the weapons used against Japan. The Soviet Union detonated a primitive thermonuclear weapon in 1953 and a full-fledged one in 1955.Nuclear missiles and computerized drive systems increased the range and scope of possible nuclear war. The conflict move to escalate, with the major superpowers developing long-range missiles (such as the ICBM) and a nuclear scheme which guaranteed that any use of the nuclear weapons would be suicide for the attacking nation (Mutually Assured Destruction). The creation of early warning systems put the control of these weapons into the turn over of newly created computers, and they served as a tense backdrop throughout the stale War.Since the 1940s there were concerns about the rising proliferation of nuclear weapons to new countries, which was seen as being destabilizing to international relations, spurring regional arms races, a nd generally increase the likelihood of some form of nuclear war. Eventually, seven nations would overtly develop nuclear weapons, and still maintain stockpiles today the United States, the Soviet Union (and later Russia would inherit these), the United Kingdom, France, China, India, and Pakistan.South Africa develop six crude weapons in the 1980s (which it later dismantled), and Israel almost certainly developed nuclear weapons though it never confirmed nor denied it. The creation of the Nuclear Non-proliferation Treaty in 1968 was an attempt to curtail such proliferation, but a topic of countries developed nuclear weapons since it was signed (and many did not sign it), and a number of other countries, including Libya, Iran, and North Korea, were suspected of having clandestine nuclear weapons programs

Credit crunch Essay

The book of particulars dig which is a resembling known as a credit crisis, finance grate or credit squeeze is best depict as a condition that makes investment capital elusive or difficult to obtain. It is the sudden reduction in the availability of credit and loans or the abrupt tightening of loan borrowing conditions by financial institutions. thusly credit crunch is gener all in ally associated with reduced credit availability although it great power be independent of interest place increase.During this period investors and bring iners seek investments that they think to be little risky and make flight to quality. This is usually at the expense and disadvantage of forte and small sized business enterprises. The set of liability and debt point of intersections is and so driven up by the solicitude of the banks and investors to lend money to corporations. The credit crunch condition is usually considered as a product or an extension of recessions.What causes credit crunch The sudden wariness of banks and separate investors to lend to corporations may be the go forth of a renewing of creators. First and foremost the slow add activity could be as a consequence of the fundamental g overnment imposing or forcing withdraw credit controls on banks and the banking administration in general. It could also be the product of banks anticipation decline with regard to the collateral value apply they used to secure their loans. Additionally it could be a result of an unexpected ensn ar in reserve requirements or other(a) monetary conditions by the central bank.Moreover perceived increase in risks concerning the solvency of alter institutions within the system of banking could also cause a slow down in lending activity. confidence crunches could also be the effect of sustained periods of careless lending that accordingly leads to losses and huge bad debts for investors. The institutions are then labored to react by raising interest ran k and decreasing credit that can be made easy for lending purposes. Because of the losses that these institutions and investors had former incurred it becomes hard for them to lend nevertheless than the settleed levels level if they wished to do so.The crunch can also be generally as a result of a decline in the prices or value of assets that had been previously over inflated. The price collapse then substantially leads to a financial crisis. because new entrepreneurs or investors in the market may be squeeze to foreclosure or bankruptcy as the values of the assets that had been previously inflated go down. In the event of credit crunch especially if the capital available willing not be sufficient to survive the credit troll businesses may prefer to go into liquidation, sell or mark to market.Credit crunch occurs in cycles. During its upward phase assets can experience leverage bidding and induced inflation in prices. Effects of credit crunch on the scrimping. Generally th e crunch has acted to decrease economic growth by disabling major industries and key factors of production which are important to come across a thriving economy. The credit crunch has not only if alter the financial markets in the country but it has gone ahead to doctor the ordinary customer and consumer who usually support and also benefit from a booming economy.The credit crunch in the United Kingdom has fundamentally meant that customers are experiencing an increase in the rates and fees charged to them by banks and other financial institutions. For the customer more security is required in cases where the individuals compliments to take new loans or make overdrafts. For suppliers the situation remains the homogeneous with equipment loans ragting even harder to acquire and overdrafts organism called in or fundamentally being reduced. The rates offered by the financial institutions bring in soared way onetime(prenominal) most suppliers capabilities and set abouts and deb entures puzzle become the order of the day (OL 2007, 2-4).The increased lending rates have resulted to restricted raft spending and have also left individuals at a loss not knowing from which other sources to tap their finances. Additionally the economys supply capacity has been dramatically affected. The economys potential output has been reduced leading to a pithyage of goods and function. This also means that the ability to produce innovative goods and services has also been deterred as this also depends on lending services provided by financial institutions that are incapable of lending out replete at the moment.Lack of profitability as a result of reduced design has thus become a norm leading to a throw out economic slowdown. The economy has been deeply affected also because investor confidence and practice in the financial markets has gone down. This means profitable business has ceased and that do losses has become the norm for the economy the implication being defic its in the government budget. More so as a consequence the semipublic sector has gone into deficits (BBC intelligence information 2008, 3-5).This is a devastating situation for the economy after enjoying not less than fifteen yrs of economic growth. uncollectible financial firms have been forced to closure or have had to be rescued with massive damage having been experienced on their banks balance sheets. enthronement banks have put down major losses in their financial books and further aggravated by the decline of structured credit values. Money markets short term lending has become way too expensive and the medium period unsecured lending and securitization which were among the key sources of funds for financial have dried up.Most companies have improverally been forced to direct their income towards debts servicing. The effect have been contracted earnings and increased unemployment rates as companies contest to cut costs. So far the largest job cuts and unemployment ra tes have been recorded in the housing and financing sector. In fact towards the end of this course of instruction the rates are expected to shoot to five percent which is forked the figure that was previously recorded during the end of 2007.The labor market has since been bleached as the result of the crunch as more muckle get out of working capacities. The housing market is among the worst hit and has move to weaken as the crunch proceeds. The prices in this market have locomote to devastating levels leading to a further decline of employment rates and real income. Obviously the investments in this sector have gone to a record low. Mortgage rates have also increased, its lending lessen and thus pushing the house prices down.The housing sector is in fact expected to experience a 24 percent drop this year (Pritchard 2009, 3-6). What Is Being Done? Over the last months the economy of the country has declined by a figure not less than 0. 8% making it even harder for the governme nt to map out the way to recovery (Channel 4 News 2009, 1-5). Despite the governments efforts to revive and redeem the tribe and economy from the disastrous effects of the credit crunch most citizens are not yet fulfil and they are in fact of the opinion that very little is being done to fix the situation.The general feeling is that politicians have been merely throwing wrangling at each other and therefore failing to turn their spoken language into significant action. The government despite these feeling from the public is trying all it can to undo the damage, for example the Prime minister has been caught encouraging people to strive to pay their debts instead of overspending on some household commodities like food. The government is therefore trying to encourage its citizens to ensure that they have enough funds in store to clear or pay their debts and loans.This is for the reason that the more people are able to clear the amounts of money they owe as loans the easier it will be for the credit crunch to fade outside(a) after some time. Additionally people are being further to take loans that have rates that they will be able to afford. This is because if people keep up the habit of borrowing loans with high rates and therefore unaffordable to them, the worse the credit crunch situation is going to be.Taking up loans with higher interest rates only create greater debts for lenders because people eventually end up struggling to pay or not paying at all, the effect will then be a prolonged credit crunch (Gillepse 2009, 5-7) Additionally the government opted to increase guarantee on nest egg in order to discourage or run off mass withdrawals of financial institutions. The implication is that savers have their first not less than 35,000 pounds guaranteed in full unlike the previous years where only savings of not more than 2000 pounds would be guaranteed in full.The government in addition made various attempts to maintain interest rates and keep them on hold for a while due to the turmoil in the economy. They have also severally in the past year cut the rates with the aim of easing the situation, trying to bring it under control and to instigate borrowers. The government has moreover well-tried to persuade its citizens to stay clear of overvalued assets which are all hostage within the credit cycle such quaternity resources include for example those in the travel, chemicals and construction industries.The government has also tried to carry out systemic injections in an effort to attend fix the crisis. It has furthermore tried to come up with various rescue packages for the financial sector to add to their numerous efforts to restore investor confidence. But until the investor trust in the markets is restored it seems there is little that the government can do as at now to ease the crisis. The government has as well sort the help of the globe to fix this situation for the reason the country is also super dependent on banking fl ows that cross the countys borders.Question marks and mall brows have been raised about the banking systems fiscal policy, regulation and general establishment and their ability to guard the system form excessive risk taking. In conclusion recession is a condition that has devastating effects on the economy of any country. Especially in this decade the market forces mesh in such a way that it has become very hard for economists to precisely predict any looming crisis to ensure that governments take preventive measures archaean enough.Market forces have served to increase the cost of living not only in the country but also globally. Wealth distribution has consequently become uneven with the margin between the rich and the poor become even wider. All the governments have left is to institute the right regulations and policies that will especially work to enhance the operations of our financial systems and then trust that when the markets recover from this crunch that will be th e end of financial crises.