Frank Abignale - Catch me if you can essays

Frank Abignale - Catch me if you can essays In the beginning of the story we are introduced to the character Frank Abignale. His parents decide to get a divorce, resulting in Frank becoming emotionally distraught. He becomes a very lost and confused seventeen year old boy looking to escape the feelings of sorrow. Frank decides to run away, for he cannot choose which parent to live with, and figures it would be the best thing for him. Being so young and innocent to the real world, he figures the easiest way to make money is to scandal people and banks for his survival. This talent comes easy to frank, looking so mature in age and being abnormally brilliant, he becomes a professional con artist over night. One of the many qualities Frank had, which definitely had a big impact on his new career, was an extremely high level of perseverance. Frank would never give up on anything until he successfully achieved his goals. This habit was inherited from his father, he was a very successful business man. Throughout the story, Frank learns a lot of lessons that he encounters himself. He learns best from experience. It is obvious that during his outrageous adventure of conning and stealing he is going through immense changes. They start to convert him to a more honest and trustworthy human being. An example of this change is when he meets his fianc Rosalie. He is so in love with her that he feels guilty about pretending to be someone he is not. Frank starts second guessing his choice of employment. Feeling so close to Rosalie, he figures that he can tell her the truth about his real lifestyle and true identity. Tired of being an impostor, he faces the music and tells her all about his dark side. Unfortunately, telling her the truth did not quite as expected and blew up in his face. She called the authorities, and so this lead to Frank abandoning his life as an engaged doctor, to hopping back on a plane to another location as an airline pilot. After the incident, he really starts...

Origins and Use of Amaranth in Prehistoric America

Origins and Use of Amaranth in Prehistoric America Amaranth is a grain with high nutrition value, comparable to those of maize and rice. Amaranth has been a staple in Mesoamerica for thousands of years, first collected as a wild food, and then domesticated at least as early as 4000 BC. The edible parts are the seeds, which are consumed whole toasted or milled into flour. Other uses of amaranth include dye, forage and ornamental purposes. Amaranth is a plant of the family of Amaranthaceae. About 60 species are native to the Americas, whereas less numerous are the species originally from Europe, Africa, and Asia. The most widespread species are native to North, Central and South America, and these are A. Cruentus, A. caudatus, and A. hypochondriacus. Amaranthus cruentus, and A. hypochondriacus are native of Mexico and Guatemala. The first one is used in Mexico to produce typical sweets called alegrà ­a, in which the amaranth grains are toasted and mixed with honey or chocolate. Amaranthus caudatus is a widely distributed staple food both in South America and in India. This species originated as one of the staple foods for the ancient inhabitants of the Andean region. Amaranth Domestication Amaranth was probably widely used among hunter-gatherers in both North and South America. The wild seeds, even if small in size, are produced in abundance by the plant and are easy to collect. Evidence of domesticated amaranth seeds comes from the Coxcatlan cave in the Tehuacan valley of Mexico and dates as early as 4000 BC. Later evidence, like caches with charred amaranth seeds, has been found throughout the US Southwest and the Hopewell culture of the US Midwest. Domesticated species are usually larger and have shorter and weaker leaves which make the collection of the grains simpler. As other grains, seeds are collected through rubbing the inflorescences between the hands. Use of Amaranth in ancient Mesoamerica In ancient Mesoamerica, amaranth seeds were commonly used. The Aztec/Mexica cultivated large quantities of amaranth and it was also used as a  form of tribute payment. Its name in Nahuatl was huauhtli. Among the Aztecs, amaranth flour was used to make baked images of their patron deity, Huitzilopochtli, especially during the festival called Panquetzaliztli, which means â€Å"raising banners†. During these ceremonies, amaranth dough figurines of Huitzilopochtli were carried around in processions and then divided up among the population. The Mixtecs of Oaxaca also recognized a great importance to this plant. The precious Postclassic turquoise mosaic covering the skull encountered within Tomb 7 at Monte Alban was actually kept together by a sticky amaranth paste. Cultivation of amaranth decreased and almost disappeared in Colonial times, under the Spanish rule. The Spanish banished the crop because of its religious importance and use in ceremonies that the newcomers were trying to extirpate. Sources Mapes, Christina and Eduardo Espitia, 2001, Amaranth, in The Oxford Encyclopedia of Mesoamerican Cultures, vol. 1, edited by David Carrasco, Oxford University Press. pp: 13-14 Sauer, Jonathan D., 1967, The Grain Amaranths and Their Relatives: A Revised Taxonomic and Geographic, Annals of the Missouri Botanical Garden, Vol. 54, No. 2, pp. 103-137

The Rocking Hourse Winner Essay Example | Topics and Well Written Essays - 1000 words

The Rocking Hourse Winner - Essay Example Looking back at the earlier events in the story, it can be seen that it was Hester; Paul's mother is solely responsible for his death. It should be noted that Hester's desire to maintain the lifestyle she was accustomed to started the voices in their house proclaiming that "There should be more money." Furthermore, it was also Hester who introduced the concept of luck to Paul. With this, the life of Paul became a quest to stop the voices and to find luck. These desires, which both originated from his mother, killed him in the end. The story started by drawing a portrait of Hester "who was beautiful, who started with all the advantages, yet she had no luck." Though this woman married the one that she really loves and was blessed with three children, there stood this deep feeling of incompleteness in her heart. Within her, there is always this strong longing for the things that she does not have like beautiful clothes, cars, jewelries, and other material possessions that only money can buy. She finds no joy in parenting as she considers her three little children as additional burden that she must live with. Even though she tries to be gently and loving to them, she knows that in the center of her heart, she cannot love them. For some reasons, her children are aware of her lack of affection and compassion to them. This is an unspoken understanding between the parent and their child: "They read it in each other's eyes." This is even aggravated that the fact that even though she leaves her longing for money unspok en, her children constantly hears her desire. As the story progresses, it can be seen that Paul developed the notion that his own mother does not love him. Her single desire is to have money. Thus, in order to win the affection of her mom, Paul devised his own way of giving her the money that she needs. It can be seen that Paul was doing everything to stop the whispers that haunts their house by generating more money. It can be seen that the little boy does this not only to quench his mother's insatiable desire for money. It can be seen that Paul is just like any other ordinary child whose main desire is to feel the warmth of his mother's affection. It can be seen that Paul associated the voices to the mother's lacking sense of completeness and contentment. The little boy assumed that if he can stop the whispers from haunting their house, his mother will stop wanting more money. This way, his mom can love him the way he really wants to. However, instead of stopping the voices in the house, the arrival of more money in Paul's house caused the whispers to become louder, asking for more money. It should be noted that the arrival of the money did not satisfy Hester. After reading the letter from the lawyer "her face become hardened and become more expressionless." She wants even more money causing Paul hears the voices growing much louder. This caused him severe depression as it signifies his failure to bring enough money. This is even worsened by the inability of the little boy to guess the winning horse in the two previous races. Thus, Paul was seized by tensions as he intensely wanted to know the winning horse for the Derby. After wildly riding his rocking horse one night, Paul was finally able to know the winning horse for the race. This might have overwhelmed him with ecstasy because this means that he will be able to bring more money into their house, stopping

Business Law Research Paper Example | Topics and Well Written Essays - 1750 words

Business Law - Research Paper Example In later years, the scope of anti discrimination law has been extended to include discrimination in the workplace against individuals other than black Americans. This report discusses the relevant legislation that has been implemented and the impact that they have had in terms of influencing the human resources process at organizations in the United States. Some of the legislation introduced in the United States to tackle the issue of discrimination in the workplace include: (a) Title VII of the Civil Rights Act of 1964, which prohibits discrimination in employment based upon age, racial background, colour, sexual orientation or nationality (b) The civil rights Act of 1991, one of the provisions of which is to provide for monetary damages for those individuals who have been intentionally discriminated against. (c) Equal Pay Act of 1963, wherein men and women who perform substantially the same level of work are to be provided with equal pay (d) ADEA OR the Age Discrimination in Employ ment Act of 1967, which protects those individuals who are aged 40 years or over from being denied work opportunities or promotions (e) ADA or Americans with Disabilities Act of 1990 (as amended) in which Title I and V prohibits discriminating individuals who are disabled from employment in the private sector, local or state governments (f) The Rehabilitation Act of 1973, the equivalent Act to the ADA for individuals with disabilities in the Federal Government, under Sections 501 and 505. (g) The Genetic Information Non discrimination Act of 2008, which under Tiitle II, does not allow discrimination against an employee, former employee or ob applicant on the basis of genetic information about the candidate that may be available. Anti discrimination employment laws have produced a significant impact in terms of making the employment arena a much more equitable playing field for those individuals who are from minority backgrounds or who are disadvantaged in some way compared to the av erage applicant, i.e, through disability, sexual orientation, religious background or other factors. Burnstein and Edwards (1994) examined the impact of employment anti-discrimination laws on the relative earnings of blacks and whites. As these authors indicate early on in their article, citing the views of Gunnar Myrdal, in 1944, the American Blacks were in a wretched position in terms of employment, they were mostly destitute and poor, living in segregated slums. The anti discrimination legislation however, provided an opportunity for blacks to apply for positions that were earlier not accessible to them, such as jobs in public sector enterprises and educational opportunities. Secondly, the legislation provided them an opportunity to seek redress through the courts and by approaching the Equal Employment Opportunity Commission if they were not paid on an equitable basis in comparison with whites. As Burnstein and Edwards (1994) have pointed out, the most significant impact of the anti discrimination legislation has been the improvement in the relative earnings levels between blacks and whites.(Burnstein and Edwa

Florence kelleys speech on child labor Essay Example for Free

Florence kelleys speech on child labor Essay In Florence Kelley’s speech to the National American Woman Suffrage Association, she connects with her audience and encourages them to fight for the end of child labor by showing how horrifying it truly it is. Through bringing up the horrors of child labor, she implies that women need the right to vote, as they would abolish child labor. By appealing to pathos, using imagery, and applying repetition, Kelley successfully convinces the audience to agree that child labor is wrong. Through appealing to pathos, Kelley connects with the audience’s conscience by showing how barbaric child labor and pushes her audience to desire the end of child labor. By stating that children â€Å"in age from six and seven years and eight, nine, and ten years†, work to provide for their families and themselves, Kelley strikes a chord in the listeners’ hearts and shows how this system takes advantage of young kids. This shows the monstrosity that is child labor as they are so young. As she writes that â€Å"boys and girls, after their 14th birthday, enjoy the pitiful privilege of working all night long†, Kelley shows that working all night is like forcing children into slavery. With the oxymoron â€Å"pitiful privilege†, she shows ironic it is that when a child has an important birthday, they are jokingly rewarded with longer work hours. Kelley connects with the audiences’ emotions as she shows how unjust it is to make children work as hard and as long as adults do. By describing the children as â€Å"little beasts of burden, robbed of school life that they may work for us†, Kelley makes the audience feel guilty for allowing child labor to be a common occurrence within America. By utilizing pathos, Kelley connects with her audience through proving how horrendous child labor is and calls them to action to rid America of it. Kelley also uses imagery to convince the audience that child labor is horrendous and should come to an end by vividly describing the working conditions that the child laborers go through and how young these workers truly are. She describes the children as, â€Å"just tall enough to reach the bobbins†, which brings to the audience’s mind an image of an innocent girl forced into working at such a young age. As she describes the harsh factory working conditions the children face, she points out, â€Å"the deafening noise of spindles and the looms spinning†. By using such descriptive imagery, Kelley transports the audience to the rooms where little children are suffering and working. Through placing these unforgettable images in her audience’s mind, she causes them to realize the unfairness and horror of child labor which they will never be able to forget. Another rhetorical device Kelley uses to convince her audience that child labor is a monstrosity is a repetition of certain phrases. Through repetition, Kelley pushes her words and facts into her audience’s head leaving them no room to deny the unfairness of child labor. Throughout her speech, Kelley repeatedly starts paragraphs with, â€Å"in (certain state)†. By doing this, she is able to state facts on child labor laws in certain states; showing that though there are laws on child labor, they are still extremely unreasonable and unfair. This shows the audience that child labor is very real and though they do not witness it, these kids make their items of comfort. She also repeats the phrase â€Å"while we sleep†. This repetition highlights that children work through the night, but more importantly, it implies that this occurs while everyone else is relaxing and sleeping soundly in their beds. By showing that children are forced to work extremely hard, the audience is left horrified. By utilizing repetition, Kelley successfully imprints the facts of child labor and its’ unfairness in the listener’s mind. In Kelley’s speech, she appeals to the audience’s conscience and emotions, paints vivid imagery, and uses repetition to call others to fight to end child labor as it is a horrendous occurrence.

To Kill a Mockingbird by Harper Lee :: essays research papers

To Kill a Mockingbird   Ã‚  Ã‚  Ã‚  Ã‚  The book To Kill a Mockingbird, by Harper Lee, is a novel written with a certain substance that is lacking in many novels of the 20th Century. Harper Lee was able to write this book, which heavily represents a very robust set of morals, in a way that expresses her opinions, rather than desecrating other people’s beliefs.   Ã‚  Ã‚  Ã‚  Ã‚  In To Kill a Mockingbird, Harper Lee introduced her feelings towards the injustice that happens in our justice system, the ways that segregation and discrimination are sometimes overlooked in our society, and that you can’t fully understand someone else’s opinion until you â€Å"climb into his skin and walk around in it.† She was able to express her views through these themes, without being overly manipulative. The injustice in our society’s justice system is represented by the trial of Tom Robinson. A woman named Mayella Ewell accused Tom Robinson of rape. Even though Tom’s lawyer, Att icus Finch, was able to prove that Tom could not have raped Mayella, Tom is found guilty because he is a black man, and according to Atticus when he tries to describe what happened to his daughter â€Å"Scout,† a judge will always believe a white woman’s word, no matter how low she is in the caste system to any black man’s word. This is just one of the many overlooked ways of segregation.   Ã‚  Ã‚  Ã‚  Ã‚  Harper Lee also expresses her views on how hypocritical many Americans were when it came to segregation. In To Kill a Mockingbird, Harper Lee describes an elementary school teacher that denounces the way that the Jewish people were treated by Hitler, but she sees nothing wrong with the way that Tom Robinson is being treated for merely being accused of rape by Mayella Ewell. Another point that Harper Lee makes clear is by describing that there is a group of people who run charities to raise money for the people of Africa, because the Africans lead lives which are so awful, but they completely overlook that there are African-Americans living in the same town who live as poorly as they would in Africa, but no one seems to notice and care about them.   Ã‚  Ã‚  Ã‚  Ã‚  One of the final themes that Harper Lee presents is that it is impossible to understand anyone else unless you â€Å"climb into his skin and walk around in it.† For instance, there is a character named Boo To Kill a Mockingbird by Harper Lee :: essays research papers To Kill a Mockingbird   Ã‚  Ã‚  Ã‚  Ã‚  The book To Kill a Mockingbird, by Harper Lee, is a novel written with a certain substance that is lacking in many novels of the 20th Century. Harper Lee was able to write this book, which heavily represents a very robust set of morals, in a way that expresses her opinions, rather than desecrating other people’s beliefs.   Ã‚  Ã‚  Ã‚  Ã‚  In To Kill a Mockingbird, Harper Lee introduced her feelings towards the injustice that happens in our justice system, the ways that segregation and discrimination are sometimes overlooked in our society, and that you can’t fully understand someone else’s opinion until you â€Å"climb into his skin and walk around in it.† She was able to express her views through these themes, without being overly manipulative. The injustice in our society’s justice system is represented by the trial of Tom Robinson. A woman named Mayella Ewell accused Tom Robinson of rape. Even though Tom’s lawyer, Att icus Finch, was able to prove that Tom could not have raped Mayella, Tom is found guilty because he is a black man, and according to Atticus when he tries to describe what happened to his daughter â€Å"Scout,† a judge will always believe a white woman’s word, no matter how low she is in the caste system to any black man’s word. This is just one of the many overlooked ways of segregation.   Ã‚  Ã‚  Ã‚  Ã‚  Harper Lee also expresses her views on how hypocritical many Americans were when it came to segregation. In To Kill a Mockingbird, Harper Lee describes an elementary school teacher that denounces the way that the Jewish people were treated by Hitler, but she sees nothing wrong with the way that Tom Robinson is being treated for merely being accused of rape by Mayella Ewell. Another point that Harper Lee makes clear is by describing that there is a group of people who run charities to raise money for the people of Africa, because the Africans lead lives which are so awful, but they completely overlook that there are African-Americans living in the same town who live as poorly as they would in Africa, but no one seems to notice and care about them.   Ã‚  Ã‚  Ã‚  Ã‚  One of the final themes that Harper Lee presents is that it is impossible to understand anyone else unless you â€Å"climb into his skin and walk around in it.† For instance, there is a character named Boo

Communication and crisis Essay

The paper focuses on essential communication in the community crisis situation described in the provided scenario. The paper includes the following: The individuals or groups that will be communicating inside and outside the organization during this crisis situation Potential advantages and challenges associated with communicating within the organization and with the public and private sectors during this crisis situation Differences in communication processes used in crisis situations, including what you learned from the situations in the scenario and how you might incorporate that knowledge to improve health care communication strategies Appropriate technology, such as social media, affecting communication during the crisis situation and how these technologies may be used to enhance communication How technology might be used differently now than it was during the crisis situations described in the scenario Media opportunities during this management crisis The paper cites a minimum of three sources, one from the University Library and another from the course textbooks or Electronic Reserve Readings, to support the paper’s position. Additional Comments: The paper—including the title page, reference page, tables, and any appendices—is consistent with APA guidelines as directed by the facilitator. The paper is laid out with effective use of headings, font styles, and white space. Rules of grammar, usage, and punctuation are followed; spelling is correct.

Law of International Trade Essay

Introduction Coffee Beans that were bought in Sao Paulo, Brazil are to be transported to a depot based in Durham, England. The total weight of the Coffee Beans to be shipped is 1500 tonnes. At first, this may seem to be an ordinary shipment on the surface. However, when putting into perspective the amount of legalities to be fulfilled and the massive quantity of beans involved, the daunting nature of the task becomes evident. Every country has its own set of peculiar trade laws. These laws become more complex and stringent when it comes to International trade. However, while trading across boundaries, the local domestic law needs to be respected at any cost. An International trade law is a combination of the law of the land and international laws governing the transactions of goods or services across borders (Cornell, 2005). Multilateral treaties are also signed between countries to resolve disputes and effectively enforce mutually consented terms and conditions. This is done to standardize the entire process and prevent conflicts. For instance, the Convention on contracts for the International Sales of Goods  (CISG) is one such international trade agreement put forth by the UN to govern International trade operations. The different modes of transportation available for transportation need to be considered, keeping in mind a host of factors. This includes ensuring the safe transit of the beans at each and every point, right from the spot of purchase to the destination depot. Efforts also need to be made to make the process as economical as possible. The reduction in transportation charges would translate to higher levels of profit. The sharing of the costs involved in shipping the beans should be properly worked out and the decisions should be incorporated into the agreement. The point at which the seller’s liability ends also needs to be appropriately documented.   It is usually indicated by the INCO terms. Although economy in transportation is essential, it should not come at the cost of invaluable time. The goods also need to be transported within a reasonable timeframe. The laws regulating trade in the departure as well as destination points need to be properly interpreted, in order to avoid confusion at a later point of time. This calls for relevant paperwork which would certify the legitimacy of the whole process. To start with, the whole process needs to be broken down into different steps. The purchase of coffee beans can either be from a manufacturer or a wholesaler. Relevant proof of purchase provided should be provided by the seller, after receiving the agreed price. Other export licences should be purchased, in order to ship them to the depot in Durham. Then, the purchased beans are moved to a warehouse. Since the purchased goods are quite voluminous and bulky, transporting the goods through best the most cost-effective solution. However, the goods from the seller’s premises have to be transported to a warehouse. A warehouse is usually an empty storage with adequate facilities for moving goods. It is used by manufacturers, businesses, importers, wholesalers, exporters and customs agency to intermediately store goods. The seller would have to notify the buyer about the estimated time of arrival. The seller would also have to provide necessary proof documents of each stage involved in the carriage of the goods. A host of expenses are usually incurred during the carriage of goods from one country to another. This includes expenses incurred in Warehouse storage and labour, export packing, loading charges, inland freight, terminal charges, forwarder’s fee, vessel loading charges, charges upon arrival, ocean/ air freight, excise duty, taxes, customs and charges upon delivery at the destination. While carrying out International trade, the main concern is the surety of obtaining payments within an acceptable period of time. This concern is addressed by the concept of Documentary Credits. Documentary Credit is a system by which the buyer instructs his bank to pay the seller. On the basis of customer trust, the bank transfers the funds to the seller’s bank account on the behalf of the buyer. However, adequate documents in support of the concerned transaction will have sent from the ship to the seller’s bank. After verifying these documents, they are sent to the buyer’s bank for further processing (Fraud Aid, 2005). In this arrangement, the bank becomes the primary obligator, thereby promoting healthy International trade by eliminating doubts and concerns about payment. The written instruction given by the buyer to his bank is also commonly known as letter of credit (L/C). The International Chamber of Commerce has defined some internationally recognised trading terms. These terms are otherwise referred to as INCO terms 2000. These trading terms are commonly used during the overseas transportation of goods. They are used to indicate whether it is the seller or buyer that has to produce the required documents essential for carrying out trade on a global scale. The INCO terms should be followed by the named place mentioned in the contract (International Business Institute, 2000). The named place in this case is Durham, England. These terms are capable of designating the liabilities as well as rights of each party involved. Incoterms 2000 ‘Ex Works’ refers to type of delivery where the entire cost and risk of transporting the goods from seller’s premises to the final destination is borne by the buyer. This model is highly beneficial to the seller, since there is no risk involved. The seller does not even have to take up the responsibility of loading the goods from his premises, as the only obligation will be to make goods available. The relevant invoice and testimonials mentioned in the contract will also have to be provided by the seller. The short term for Ex Works is EXW. ‘Free Alongside Ship’ transfers the risk and cost of transportation when the seller transports the goods to the quay, alongside the ship. The abbreviation for Free Alongside Ship is FAS. In ‘Free Carrier’, the responsibility of ensuring the safety of the goods ends for the seller when the goods are handed over to the Carrier’s custody at a mutually agreed location. This location is referred to as the named point. In Free On Board, the seller bears the liability until the goods are put on board the ship at the Port of shipment. The port of shipment is mentioned in the contract. From this point, the risk transfers to the Buyer. This is commonly known as FOB. In Cost & Freight (CFR), the seller ships the goods to the named Port of destination mentioned in the contract, by paying the freight charges. The buyer then takes up complete responsibility when the goods pass over the ship’s rail at the Port. The conditions of Cost Insurance & Freight are similar to the previous one. However, the Seller has to take the additional responsibility of paying the insurance premium on the buyer’s behalf. This is denoted by CIF. The seller has to also incur expenses in insuring all the risks until the named destination, in the case of Carriage & Insurance Paid (CIP). When the seller bears the freight charges of the goods until they reach the mutually agreed location, it is mentioned as Carriage Paid (APT). As soon as the goods reach the first carrier, it becomes a liability of the buyer. In Delivery at Frontier (DAB), the seller bears the charges and liabilities until the goods enter the Frontier.   When the goods reach the Customs process, it risk transfers to the buyer. Delivered Duty Paid (ADP) is most favorable to the buyer, since the seller will bear all charges incurred in delivering the goods to the buyer. Delivered Duty Unpaid is similar to ADP, with the exception of import duty and other official import charges that are borne by the buyer. In Delivered Ex Ship (DES), the responsibility and cost of transferring the goods passes from the seller to the buyer when the ship carrying the goods reaches the destination port. It will be the buyer’s responsibility to discharge the goods.   Delivered Ex Quay (DEQ) is of two types; Duty Paid and Duty on Buyers Account. The seller has the obligation to deliver the goods in the quay of the destination port. Either the buyer or the sealer takes up the responsibility of the paying the duty, according to the initial agreement. Farther considerations Many factors have to be considered when it comes to structuring a carriage contract agreement. There are three forms of carriage; common carriage, contract carriage and private carriage. Common carriage is a type of carrier service catering to the general public to perform common transportation services. These services have to be authorized by various government regulatory agencies. The tariffs that are charged for the service lawfully demanded locations are held by these agencies. Contract carriage involves transportation services to an unlimited number of posts. These agencies also have to get necessary authorization from the same agencies. Relevant contracts consisting of details about the minimum rates and charges are filed at different granting agencies and. Copies of this contract are also retained at the facilities of the shippers as well as the carriers.  Private carriage offers transportation services to business enterprises.   This service is for meant for manufacturers and distributors that transport their goods in their private vehicles driven by their own employees. It is also commonly known as shipper-carrier. The ‘distinct needs’ provision takes care of distinguishing the different carriage types. It is very essential to distinguish between a normal contract and a carriage contract; failure to accomplish this could result in several liability issues on both sides. This distinct needs provision helps to distinguish a carriage contract from a regular one. This provision incorporates certain unique terms and conditions including specific requirements of a shipper and the obligations that need to be satisfied by the contract carrier. Some of the commonly mention distinct needs in a carriage contract agreement are price adjustment clauses, terms of credit, incidental transportation charges, cargo transfer charges and specific delivery schedules. However, the shipper should truly comprise these unique services if they are mentioned. A certain degree of reasonableness should be allowed while dealing with carriage contracts. First of all, one has to understand various shipping term in order to comprehend the shipping rules better. ‘Carrier’ is a term used to refer to the person who signs the contract of carriage with a shipper. It is usually the owner or charterer who hires a ship to carry their cargo, passengers or other goods. ‘Shipper’ refers to the person who pays money to the carrier to transport his goods (Arnold, 2003). Hence, the term ‘shipper’ may either refer to the buyer or the seller of the beans, depending upon the INCO term in use. Carrier is the company or agency which undertakes to ship the beans from Brazil to England. The Contract of carriage will apply to agreements mentioned in the bill of lading or any similar document that concerns the carriage of goods by sea.   The term ‘goods’ is used to refer to wares, merchandise and other articles. However, live animals are not included in the goods category. Goods such as brandy and gun powder were classified as dangerous goods. The validity period of the Contract of carriage starts from the time of goods being loaded until they are unloaded from the ship. Hague & Hague Visby Rules Hague rules were framed by the International Convention for the Unification of Certain Rules of Law relating to Bills of Lading and Protocol of Signature. It came into effect on 25 August 1924 in Brussels. It was an effort to constitute a minimum mandatory liability for carriers, since most of them were evading the liability due to loss or damage of cargo. According to the Organisation for Economic Co-operation and Development   (OECD), this was a move by the International community to fabricate a fair system for the shipper as well as the carrier. Even today, these rules act as the foundation for framing marine trading laws for a majority of the nations around the world. According to Hague Rules, the carrier will be liable to bear the cost of damaged or lost goods only if the shipper is able to prove that the shipper’s lack or absence of diligence. However, the carrier would not be held liable if the ship was unseaworthy. The carrier will also lose the liability to compensate for the goods, when the damage is caused by a natural calamity termed as ‘Act of God’ or a fire accident which is caused to due to any reason other than a fault in the carrier vessel. The carrier will also not be liable for damages caused due to the act of terrorists, war or and other anti-social elements like pirates. The carrier would not be responsible for a delay in the delivery of goods, if the delay was caused due to an emergency situation like lockouts, quarantine operations or public strikes. The shipper would not be able to claim damages from the carrier, even in the event of neglect of the duty by the employees of the ship.    Hence, this enabled the carrier to get away with liabilities arising as a result of errors made by the people working on board such as mariners and the carrier’s working staff, if the carrier was in a position to prove that the ship was seaworthy and adequately and appropriately manned (Admiralty Law Guide, 2006). Since this provision lets carriers to get away scot-free, it has posed a serious conflict in balancing liabilities between the carrier and shipper. Transportation of goods involves two main types of contracts. They are Carriage Contract Agreement and Bill of Lading Contract. Carriage Contract Agreements are usually signed when long shipments are involved. It serves as a continuing contract that stands for the safe delivery of goods to promised destination. It usually covers multiple shipments that are necessary to carry out a long shipment process. The complete shipment process may involve other modes of transportation such as ground and air shipment.   However, carriage contract can not serve as a receipt of merchandise. The Bill of Lading is issued by the carrier as a proof of receiving the goods and serves as receipt of merchandise. A Bill of Lading is an agreement for a single shipment process which may be a part of a long process. In the practical sense, it is a list of expenditures incurred towards loading goods into a vessel. It is governed by all the terms and conditions mentioned in the Carriage Contract. It also acts as certificate that verifies the authenticity of the loaded goods. Further, it indicates whether the received goods were in good condition or not. Depending upon condition of the goods and packaging, the Bill of Lading is classified as Clean or Foul Bill of Lading. It also is further proof of the existence of a Carriage Contract (Wikipedia, 2006). However, the Bill of lading and Carriage Contract are completely different entities and they serve different purposes. Hence, the Bill of Lading can not be used as a Contract Carriage and vice versa. There are three types of bill of lading; straight bill of lading, order bill of lading and bearer bill of lading. In straight bill of lading, the consignee can claim damages from the consigner when the goods are not delivered on time due to defaulting or negligence of the consigner. This bill of lading is non-negotiable. In order bill of lading, the consignee can obtain delivery of goods if the consignee provides a bill and evidence showing the consigner’s interest to transfer. This bill of lading is negotiable. In bearer bill of lading, any person holding the bill of landing is entitled to receive the goods. When the consigner does not mention the consignee’s name, it becomes a bearer bill and can be negotiated. Goods that are issued with a negotiable bill of lading can be received only if the original documents are presented at the time of delivery. However, the speeding of trade and transit operations has given way to the issue of non-negotiable documents for goods, which enables the consigner to receive the goods by just presenting the non-negotiable bill of lading (Forwarder Law, 2005). Some of the standard obligations that have to be fulfilled by the consigner include providing the carrier with consignee’s name and address and destination of the carriage. The nature, weight, volume and the quantity of the goods to be shipped are also to be clearly stated. Even the packing and wrapping style, number of packages and any other details needed to identify the goods need to be provided by the consigner. The consignor would be held be responsible for any damages, in the event of false or insufficient details being provided. According to Article 283 of the Carriage of Goods by Sea Act (CGSA) (1924), the Bill of Lading can be issued either in the name of a particular person or the bearer.   It usually consists of the following details, 1) Date of issuing the bill. 2) Venue where the bill was signed and brought to effect. 3) Place of departure and destination. 4) Names and addresses of the consignor, consignee, carrier and the carriage commission agent. 5) The value and identification details of the shipped items. 6) Date of shipping. 7) Freight and other expenses with an indication of whether they are payable by the consignor or the consignee. 8) The conditions pertaining to the loading and unloading, type of transport means required to be used for carriage, the route to be followed, a determination of the responsibility and any other special conditions which may be included in a carriage contract. In addition to the bill of lading, the carrier also issues a non-negotiable receipt called waybill which proves to be useful in a situation when the goods arrive before the transaction documents. It is also issued when the consignee and the consigner is the same person (Evans, 2001). This option can be chosen when the consigner decides to reduce paperwork. A ship’s delivery order is another document that undertakes to carry goods by sea. The provisions for this document are provided by the CGSA (1992). However, this document can neither substitute a waybill nor a bill of lading. According to Article 284 of the CGSA (1924), the carrier would be required to issue a bill of lading to the consigner. Alternatively, the carrier can also give a receipt mentioning the details of the goods carried and date of consignment to the consigner. The consigner would be required to deliver the goods to be shipped at the carrier’s premises. The consigner should also produce relevant document deemed necessary for shipping. The consigner will be held responsible for any liability arising as a result of inaccurate or incomplete information in the documents provided. According to Article 288 of the CGSA (1924), Since the carrier possesses the right to examine the packaged goods and the standard of packing before the carriage, the damage of goods arising due to improper packaging is not entirely borne by the consigner; the liability is shared with the carrier. According to Article 289 of the same Act, the initial examination of the goods would require the presence of the consigner, if opening of packaging is involved. If the consigner is absent during the inspection process, the examination would progress and examination costs would be levied from the consigner. If the carrier finds the goods to be unsuitable for transit, the consigner would be informed about the same. Such goods would be shipped by the carrier only if the consigner bears the liability of damage of goods and the consigner’s consent about the same is incorporated into the Bill of Lading. Cargo Insurance compensates the shipper with losses caused due to fire, loss of cargo and damage. However, losses that can be recovered from the carrier will not be compensated by Insurance Company. It is also popularly known as Marine insurance. It is further classified into Inland and Ocean Marine Insurance. Inland Marine Insurance is issued for goods that are transported without the involving any form sea transport and Ocean Marine Insurance is meant for goods that are shipped through waterways. The three pillars of Marine Insurance are insurable interest, utmost good faith, and indemnity (Export 911). Marine Insurance is not mandatory, unless it is mentioned so in the agreement. The proof of Insurance is provided by the Insurance policy duly signed by the authority of the Insurance Company.   Generally, the insurance would cover the loss or damage of coffee beans under normal circumstances. However, the insurance would become void when the shipper tries to or succeeds in causing intentional damage. When the loss of coffee beans is meagre or caused as a result of improper packaging, the insurance would not cover the loss. According to Article 292 of the CGSA (1924), the carrier is obliged to travel in the mutually agreed upon route mentioned in the agreement. However, the carrier is expected to take the shortest route if a route is not mentioned in the agreement. However, the carrier can change course if any unavoidable situation arises and the carrier would not be held liable for any loss caused to the consigner due to the late delivery of goods, provided a genuine reason is established. The goods being transported by the carrier should be properly safeguarded. The costs incurred in achieving this objective, such as repackaging charges are solely borne by the carrier. However, this does not imply taking additional care of the goods being transported. For instance, when animals are being shipped, the carrier will not be responsible for maintaining the health of the animal by providing food and water. The same condition will stand good while transporting plants as well. However, the carrier would have to take up such responsibilities, if such conditions governing the well-being of plants and animal are incorporated in the agreement Generally, the carrier will have the obligation to discharge the goods from the ship and bear the charges incurred towards it. In the event of the agreement not requiring the delivery of the shipped item to the consignee’s facility, then the consignee would have to receive the same on a particular date fixed by the carrier. If the consignee fails to do so, then s/he would have to bear the charges incurred by the carrier for storing the shipped item. However, the consignee has the right to examine the contents before acknowledging the receipt and refuse the same, if the carrier is not co-operating. The next protocol towards the emancipation of the shippers came in the form of the Brussels protocol in 1968. It was responsible for infusing an important clause called the ‘container clause’. It enabled shippers to claim the compensation for each container specified in the Bill of Lading (Admiralty Law, 2005). As a result, this liability system came to be known as the Hague-Visby Rules. An additional protocol was added in 1979 to enhance and revise the rules. However, neither of two supplementary protocols of the Hague rules was able to effectively modify the basic liability provisions. Hamburg Rules The Hamburg rules were enforced at the United Nations Convention on the Carriage of Goods by Sea held in Hamburg on 30 March 1978. The chief objective was to enforce a system that would share the liabilities and obligations between shipper and carrier in fairer manner. However, it was only able to mildly move the liabilities to the carrier.   In addition to the terms carrier, shipper, goods and ship, a term called ‘Actual carrier’ is defined by the Hamburg rules. It refers to a person or an agency to which the carrier hands over the complete or partial responsibility of carrying the goods. The time period for claiming the liabilities caused by the carrier is also specified by the Hamburg rules. The shipper can sue the carrier for any liabilities with a two year time period from the date of delivery of the goods. This period can be extended by issuing appropriate legal declarations. However, this time period gets reduced to 90 days, in the case of a second claim after the verdict is reached for the first claim. First of all, a written complaint has to be instituted to the carrier within the next working day, in the case of apparent damage or loss. However, in the case of damage or loss not being evident, the shipper would have to file a written complaint to the carrier within 15 days of receiving the goods. In order to be in a position to claim damages due to delay, the carrier would have to give a compliant to the shipper within 60 days of the delivery. The complaint can be sent to the carrier in writing or via telegraph. Adequate facilities will also have provided by both parties to inspect and clarify these claims. If the shipper fails to satisfy any of the aforementioned conditions, he or she will not be able to claim damages from the carrier. The Hamburg rules also specify the limits for liability compensation. The compensation for the liabilities arising as a result of damage or loss can not exceed an amount more than 2.5 units of account per kilogram or 835 units of account per package. This unit is quantified by the International Monetary Fund as a result of a Special Drawing Right. If the shipper’s State is a member of the International Monetary Fund, then the units would be changed into the State’s currency on the judgment day. If the shipper’s State is not a member of the International Monetary Fund, the units would be converted according to the State’s local laws. The liabilities for delay in the delivery of goods should not be more than the total freight payable; it can be up to two and a half times the freight payable for the goods that are delayed, under the contract of carriage. Arbitrations & Disputes The arbitration of these claims and general disputes would normally take place in a venue of the claimer’s preference. However, the place should be with in accordance to the stipulations mentioned. It should not be a place outside the State where the defendant’s business or residence is located. It can also take place in a State where the contract was signed or at the place of loading or unloading the goods. Judicial action may also be taken against the carrier in the same places mentioned above. It is better to insure the coffee beans before they are to be shipped onboard a vessel, due to the risks involved in transportation. Since the carriers have only restricted limitations, it does make sense to obtain insurance. Most carriers shipping from Sao Paulo to Durham, for instance ‘Xiameter’ (2006) follows Carriage and Insurance Paid (CIP) delivery. Therefore, it is better to ship the coffee beans through a reputed carrier, in order to minimise risks and complete the shipping within a desired period of time. Bibliographies ACE- Baracuda, Guide to Incoterms, http://www.ace-baracuda.com/template7.asp?pageid=26 (accessed at: 23 April 2006) Admiralty and Maritime Law Guide, International Convention for the Unification of Certain Rules of Law relating to Bills of Lading (â€Å"Hague Rules†), and Protocol of Signature: http://www.admiraltylawguide.com/conven/haguerules1924.html (accessed at: 23 April 2006) Briel, E. (1947) International Straits: A treatise on International law, Nyt Nordisk Forlag, Copenhagen. Brooks, M, (2000) Sea Change in Liner Shipping: Regulation and Managerial Decision-Making in Global Industry, Pergamon press, Amsterdam. Brown, E.D. (1997) Law of Sea History. Bernhardt, R. (Ed), Encyclopaedia of Public International Law, Amsterdam, Northern Holland. Brugmann, G. (2003) Access to Maritime ports, Master of Laws (LLM), Books on Demand GmbH, Noderstedt, Germany. Caron, D. (1989) Ships, Nationality and Status. Bernhardt, R (Ed) Encyclopaedia of Public International law, Vol. 11, Amsterdam, Northern Holland. Lex Mercatoria: Information on United Nations Commission on International Trade Law (UNCITRAL), UN Convention on the Carriage of Goods by Sea 1978: http://www.jus.uio.no/lm/un.sea.carriage.hamburg.rules.1978/doc (accessed at: 23 April 2006) References Admiralty Law (2005) Hague-Visby Rules. Available from: http://www.admiraltylaw.com/statutes/hague.html (accessed at: 29 April 2006). Admiralty Law Guide (2006) Hague Rules. Available from: http://www.admiraltylawguide.com/conven/haguerules1924.html (accessed at: 28 April 2006). Arnold, A (2003) Relocation Terminology. Available from: http://www.aarnold.net/terminology.htm (accessed at: 28 April 2006). Evans, J (2001) Law of International Trade, 3rd Edition, Old Bailey Press, London. Cornell Law School. (2005) International Trade. Available from: http://www.law.cornell.edu/wex/index.php/International_trade (accessed at: 29 April 2006). Export 911. Principles of Cargo Insurance. Available from: http://www.export911.com/e911/ship/principl.htm#xInstitute (accessed at: 30 April 2006). Forwarder Law. Status of Seaway Bills. Available from: http://www.forwarderlaw.com/library/view.php?article_id=237 (accessed at: 30 April 2006). Fraud Aid. (2005) Documentary Credit. Available from: http://www.fraudaid.com/Dictionary-of-Financial-Scam-Terms/documentary_credit.htm (accessed at: 28 April 2006). International Business Institute. (2000) Incoterms 2000. Available from: http://www.i-b-t.net/incoterms.html (accessed at: 29 April 2006). Organisation for Economic Co-operation and Development (OECD). Hague Rules of 1924. Available from: http://www.oecd.org/document/41/0,2340,en_2649_34367_2086825_1_1_1_1,00.html (accessed at: 29 April 2006) (2006) Bill of Lading. Available from: http://en.wikipedia.org/wiki/Bill_of_lading (accessed at: 28 April 2006). Xiameter (2006) Incoterms 2000 Descriptions. Available from: xiameter.com/content/bxrules/incoterms.pdf (accessed at: 24 April 2006).

Delaware Art Museum

Delaware Art Museum Visiting a museum is a fascinating but challenging endeavor. Rich in emotions and impressions, a visit to a museum requires the basic knowledge of art. Visitors must be able to place themselves within the museum’s emotional and physical context. Reasons why people visit museums are numerous.Advertising We will write a custom report sample on Delaware Art Museum specifically for you for only $16.05 $11/page Learn More Falk and Dierking (1992) are confident that the prevailing majority of visitors come to museums for leisure. Therefore, before a visit to a museum takes place, individuals must ensure that the anticipated context matches their desires and preferences and meets their financial and time expectations (Falk Dierking, 1992). On August 23, 2011, I came to the Delaware Art Museum, located in Wilmington, Delaware. That was the first time I ever attended the Delaware Art Museum. The museum looked smaller than the one I had visited in Spain. It im pressed me with its compactness, creating an atmosphere of physical and emotional density. The day I visited the museum, all three levels and fifteen galleries were open for visitors. A few other visitors and a group of young children were wandering through the museum’s corridors. On the second level of the Delaware Art Museum I suddenly felt joy and anticipation. As I approached George Tooker’s White Wall (1964-65), the sense of anticipation gradually increased. Tooker’s picture became a true revelation to me. A graphic representation of anxiety and isolation, Tooker’s painting was like a piece of whiteness against the dark reality of life. White Wall looks confusing and leaves enough space for interpretation and analysis. It is a kind of rebellion against racism and the fear of everything non-white (Garver, 1992). A brief commentary under the painting claimed that the work had been created during the Civil Rights Movement. Tooker used his artistic talen t to depict one of his college friends, who was so afraid of blacks that hid behind the white wall (Garver, 1992). White Wall is a reflection of the young man’s fear of race – fear, which does not help but entraps and cuts the person from the rest of the world.Advertising Looking for report on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More I made a step outside and suddenly saw the Labyrinth, made of seven tons of Delaware River Rock. The path from entrance to the center of the Labyrinth is 1,515 feet long. With the diameter of 80 feet and the circumference of 253 feet, the Labyrinth is probably the most unique and impressive creation in the Delaware Art Museum. Its design reflects the features and patterns of medieval manuscripts, with 12 concentric circles, 11 circuits, 28 U-turns representing the lunar cycle, and six right-angle turns. The Labyrinth comprises four quadrants symbolizing four seasons. Inside the Labyrinth, individuals must turn 13 times to reach the center, which is almost the same as living through 13 full moons during one year. As I look back into my museum experiences, I realize how impressive and fascinating a visit to a museum can be. Museums are perfect places for recreation and socialization, as well as personal development and intellectual growth. Artworks provide excellent food for thought which, nonetheless, is not readily available for everyone. Visiting a museum is not as simple as it seems. Museums do not reveal their secrets to the unprepared. Visitors must apply considerable efforts to understand the hidden meanings. Otherwise, most works of art will remain under the veil of secrecy and confusion. Like the Labyrinth, all pieces of work in the Delaware Art Museum welcome contemplation and thinking. The Labyrinth itself and the rest of the Delaware Art Museum exemplify a perfect place of peace and meditation (Anonymous, 2010). Regardless of the peri od in which different works of art were created, they serve a gateway into the hidden meanings of our culture. Conclusion/ Summary Visiting a museum is equally fascinating and challenging. The Delaware Art Museum is a unique place, with numerous works of art created at different points of human development. George Tooker’s White Wall is a reflection of individual moods during the civil rights era. By contrast, the Labyrinth is a complex representation of medieval symbols. Whatever the purpose, visiting a museum is always a pleasure. The Delaware Art Museum serves a gateway into the hidden meanings of our culture.Advertising We will write a custom report sample on Delaware Art Museum specifically for you for only $16.05 $11/page Learn More References Anonymous. (2010). Delaware Art Museum’s labyrinth a place of meditation, peace. Halfspoon. Retrieved from  http://halfspoon-com.blogspot.com/2010/09/delaware-art-museum-labyrinth-place-of.html F alk, J.H. Dierking, L.D. (1992). The museum experience. Howells House. Garver, T.H. (1992). George Tooker. Pomegranate.

Excercise Essay Example

Excercise Essay Example Excercise Paper Excercise Paper Payments you made to Davits Salon for your hair and make up. 7. Purchases of stocks and bonds by an investor. 0 8. Production and sale of marijuana 9. Construction off new factory bay private enterprise. 0 10. Purchases of imported chocolates by consumers. 0 1 1 . Vegetables produced in the backyard and consumed by the household. 0 12. Sales of second hand cars. EX. 3. Sales by Intel Philippines of semiconductors to the US. 0 14. Sales of a San Miguel Brewery in Hong Kong to the Chinese Mainland. 0 15. Sales by Motile of car batteries to Ionians Philippines II.. Indicate to which the following items belong by writing GAP for Gross Domestic Product, GNP for Gross National Product. Both for an item that is included in both GAP and GNP. BOTH 1 Salary of your teacher in Economics. BOTH 2. Christmas bonus paid to government employees of the Philippines. BOTH 3. Medical insurance premium paid to a Filipino insurance company in Magmata. GAP 4. Consultancy fee of a US scientist working in the Philippines. GNP 5. Salaries of overseas Filipinos in Hong Kong. GNP 6. Profits of San Miguel in Hong Kong. GAP 7. Profits of LOS shareholder of Intel Philippines. GNP 8. Rental income of a Filipino who owns an apartment in the US. BOTH 9. Rental income off Filipino owned condominium in Vito Cruz. GAP 10. Salary of the Japanese president of Honda Philippines. II. Fill in the blanks. 1. A steel company sells some steel to a bicycle company for $150. The bicycle company uses the steel to produce a bicycle, which it sells for $250. Taken together, these two transactions contribute how much to GAP? Mans. $250 2. Suppose there are only two firms in an economy: Rolling Rawhide produces rawhide and sells it to Cheney Chomp, Inc. , which uses the rawhide to produce and sell dog chews. With each 52 of rawhide that it buys from Rolling Rawhide, Chewy Chomp, Inc. Produces a dog chew and sells it for $5. Neither firm had any inventory at the beginning of 2008. During that year, Rolling Rawhide produced enough rawhide for 1000 dog chews. Chewy Chomp, Inc. Bought 75% of that rawhide for $1500 and promised to buy the remaining 25% for $500 in 2009. Chewy Chomp, Inc. Produced 750 dog chews during 2008 and sold each one during that year for $5. What was the economy GAP for 2008? Mans. $4250 IV. The table below contains data for the country of Crete for the year 2010. Total income $5731 Household purchases of durable goods 1108 Household purchases of nondurable goods $702 Household purchases Of Nan-education services $203 Household purchases of education services $302 Household purchases of new housing $816 Purchases of capital equipment $333 Inventory changes $75 Purchases of new structures $267 Depreciation $401 Local government spending on goods and services $236 State government spending on goods and services $419 Federal government spending on goods and services $1182 Transfer payments $707 Foreign purchases of domestically produced goods $217 Domestic purchases Of foreign goods $129 1. What was Crates GAP in 2010? Mans. $5731 2. What was Crates consumption in 2010? Mans. $2315 3. What was Crates investment in 2010? Mans. $ 1491 4. What were Crates government purchases in 2010? Mans. $1837 5. What were Crates net exports in 201 0? Mans. $88 V. The table below contains data for the country of Fatherland, which produces only waffles and pancakes. The base year is 2009. Year Price of Waffles Quantity of Waffles Price of Pancakes Quantity of Pancakes 2008 $2. 00 100 $1. 00 2009 120 150 2010 $3. 00 200 201 1 $4. 00 180 220 1. In 2008, this countrys nominal GAP was $300 2. In 2009, this countrys nominal GAP was $540 3. In 2008, this countys real GAP was $400 4. In 2009, this countrys real GAP was $540 5. In 2010, this countrys real GAP was $700 In 2011, this countrys real GAP was $800 6. 7. 2008, this countrys GAP deflator was $75 8. In 2009, this countrys GAP deflator was 100 In 2010, this countrys GAP deflator was 128. 6 9. 10. In 201 1, this countrys GAP deflator was 172. 5 11. From 2010 to 2011, this countrys output grew 14. 3%. 12. This countrys inflation rate from 2008 to 2009 was 33. 3%. 13. This countrys inflation rate from 2010 to 201 1 was 34. . VI. The table below pertains to Knapsack, an economy in which the typical consumers basket consists of 2 pillows and 15 hotdogs. Price of a Pillow price of a Hotdogs $40 $3 $45 $4 $50 . If the base year is 2009, then the consumer price index was 100 in 2009, 2. 120 in 2010, and 3. 116 in 201 1. 4. If the base year is 2009, then the economy inflation rate in 2010 is 20 percent. 5. The ICP was 96 in 198 2, and the ICP was 208 in 2010. How much money would you have needed in 201 0 in order to buy what you could have bought with $500 in 1982? Mans. $1 ,083. 33 6. The consumer price index was 25 in 2006 and 234 in 2007. The nominal interest rate during this period was 6. 5 percent. What was the real interest rate during this period? Mans. 2. 5 percent 7. If Philippine real GAP grows by 7% while its population grows by 2%, then real per capita income will grow by 5%8. And its per capita income using the rule of 70 will double in 14 years. 9. In one day Madison Laundry washed 4,000 pounds of laundry with 5 workers who each worked 8 hours. What was its productivity? Mans. 1 00 pounds of laundry per hour 10. Stock in Creole Cuisine Restaurants is selling at $25 per share. Creole Cuisine had earnings Of $5 a share and a dividend yield Of 5 percent. The dividend is $1. 25 11. While the PIE ratio 5. VII. Suppose that in a closed economy GAP is equal to 1 1. 000, taxes are equal to 2,500 consumption equals 7,500 and government purchases equal 2,000. 1. Private saving = 1000 2. Public saving = 500 3. National saving = 1500 Assume the following information for an imaginary, closed economy. GAP $120,000; consumption $70,000; private saving $9,000; national saving = $12,000. 4. For this economy, investment amounts to $12,000. 5. The government is running a budget (deficit, surplus) surplus 6. Al to $3000. 7. For this economy, government purchases amount to $38,000. 8. For this economy, taxes amount to $41*000. 1 . Suppose the market for alienable funds is in equilibrium and the government raises the tax on the interest earned by savers. This will cause (demand, supply) supply for alienable funds to (increase, decrease) decrease _ so that the (demand, supply) supply curve shifts to the (left, right) left. In the new equilibrium, the real interest rate is (higher, lower) higher and the equilibrium quantity of alienable funds (increases, decreases) decreases. In he new equilibrium saving is (greater than, equal to, less than) equal to investment. 2. Suppose the market for alienable funds is in equilibrium and the government removes the tax incentives it used to give firms that used their profits to invest.. This will cause (demand, supply) demand for alienable funds to (increase, decrease) decrease so that the (demand, supply) demand curve shifts to the (left, right) left. In the new equilibrium, the real interest rate is (higher, lower) higher and the equilibrium quantity of alienable funds (increases, decreases) decreases.. 3. Suppose the government budget is initially balanced and the market for alienable funds is in equilibrium when the government reduces its spending and incurs a budget surplus. This will cause (demand, supply) supply for alienable funds to (increase, decrease) increase so that the (demand, supply) supply curve shifts to the (left, right) right. In the new equilibrium, the real interest rate is (higher, lower) lower and the equilibrium quantity of alienable funds (increases, decreases) increases. In the new equilibrium private investment is (higher, lower) higher. IX. Use the following table to fill in the blanks. Numbers are in millions. Total Population of working age: 139. 7 Number of Unemployed: Number of employed: 57 92. 3 a. The labor force is 98 million. B. The number of persons not in the labor force is 41. 7 million. C. The labor force participation rate is 70 percent. D. The unemployment rate is 5. 8 percent. X. The figure below shows a diagram of the labor market before and after a minimum wage is imposed. 1. If the market for workers is in equilibrium at $5. 00 per hour as shown in this diagram, the number of workers unemployed is zero. 2. A minimum wage of $8. 00 per hour will increase unemployment by how many workers? 600 workers.

The sub‐prime crisis Essay Example | Topics and Well Written Essays - 3500 words

The sub†prime crisis - Essay Example taking their toll on the modern economies however with prudent monetary policy and effective risk management practices, the future episodes of such nature may be avoided. Getting consumer credit through various financial institutions especially banks requires consumers to maintain a certain degree of credit rating in order to qualify for those loans. Unlike large corporate companies, consumers or rather individuals pose a different challenge and dynamics to financial institutions to cater their needs for credit and formal funding requirements of these individuals. It is because of this reason that various banks and financial institutions have developed their internal rating methodologies which they assign to various consumers asking for credit. Banks than through their internal as well external credit scores or ratings decide to whom they should provide the credit. These criteria of credit rating often are designed to be tough since Banks in order to avoid defaults, tighten their criteria to extend the credit to these customers. However, due to increasing needs of those customers, whose credit history or their credit ratings do not fall under the cri teria laid down by the banks, banks try to accommodate them also. Sub-prime lending is the part of that phenomenon. â€Å"Sub-Prime lending typically has been characterized as lending at relatively costly interest rates and fees to credit impaired or otherwise high risk borrowers.†Error: Reference source not found. Subprime loans are among the newly popular mortgage products, such as interest-only loans, for people with strained budgets, including first-time buyers. Homeowners increasingly use them to refinance and consolidate household debts when their credit scores fall in the wake of bankruptcy, high medical bills, or other setbacks.Error: Reference source not found. It is generally believed that the subprime borrowers emerge due to lack of the good credit history on their back and since there number grew

Business information management Essay Example | Topics and Well Written Essays - 3000 words

Business information management - Essay Example SWOT analysis is a marketing technique used by organizations to understand its external and internal environments. SWOT is an acronym for strengths, weaknesses, opportunities and threats. The first two is related to the internal environment of an organization while the other two is concerned with its external environment (Stone & Jacobs 2001, p. 35). The quality and impact of information systems with regard to its benefits to both the company and its customers can be looked at according to four perspectives (Symons, 1991, p. 181). These four perspectives are determinist, mechanic, systems, and inter-actionist. In a deterministic perspective, the hardware and software is seen simply as a technological advantage that can speed up routine tasks. This implies that systems were solely used by employees to work faster by automating the different tasks within an organization. There is bound to be widespread fear that it will bring about large scale unemployment through automation of jobs. The mechanistic perspective views an IT/IS system as a set of machines that will make its operations more efficient. It will bring about reliability and accuracy to different levels of operations and tasks. The next perspective views the modern outlook that organizations are dynamic systems made up of people. Hence an IT/IS system should reflect the proved clichà © that the ‘whole is greater than the sum of its parts’. Such a system will more than justify an investment in hardware and software in terms of efficiency and benefit to both the company and its customers. The final inter-actionist perspective reflects the current view of the efficacy of an efficient IT/IS system. It takes into account the concept of human computer interaction (HCI). (Hassan 2008, p. 230). This should ensure that an IT/IS system should be interactive with active participation of all the stakeholders which includes customers. Such a