Exchange Rate and Puchasing Power Parity Theory Essay

Exchange Rate and Puchasing Power Parity Theory - Essay Example Here, we will take a look at the concept that is the purchasing power parity and try to understand its implications on the currency exchange rates in the world. The best simplest way to describe Purchasing Power Parity, denoted by PPP, is by directly going into its application. So, PPP of the Gross Domestic Product for the countries around the world as of 2003, where we use the American economy as our base group and assign it a value of 100 would see the highest index value being appropriated to Bermuda i.e. 154. This basically means that goods that are sold in the Bermuda are 54% times more expensive as compared to those in United States. Now, the purchasing power parity theory makes use of the long term equilibrium exchange rate that exists between these two currencies in order to equalize the purchasing abilities of both the said currencies. This theory has been developed by the works of Gustav Cassel in 1920 and to put it in simplest terms, it is fundamentally the law of one price: the theory goes along the lines that in completely ideal and efficient markets, identical goods must have the same price regardless of the currency used in t he purchase of goods. By equalizing the purchasing power of different currencies in their home countries for a given basket of goods for different currencies, we can ascertain the purchasing power SEM rate. ... t are existent in a country as well as the similar rates of inflations from different countries as opposed to a generic nominal gross domestic product comparison. It is also a generally accepted notion that the most widely accepted and most often applied purchasing power parity exchange rate is the Geary-Khamis dollar; which is also known as the "international dollar". Changes in the PPP exchange rates: Purchasing power parity exchange rates; or what are known as 'real exchange rates' most often experience variability due to the exchange rate movements that taken place due to open market currency operations. Notwithstanding this type of value fluctuations, uniform variations of the market and the purchasing power parity exchange rates are observed. We have the example of the market exchange rates, which are usually priced for non-traded goods and services at a lower level than expected in the instances where the national incomes are also relatively low. This basically means that a U.S. dollar that is exchanged in Dubai for their local currency and then used to purchase body massages will buy a greater number of body massages as opposed to using the same U.S dollar in the United States to buy body massages. Purchasing Power Parity takes into account this lower cost of living in Dubai and makes specific adjustments in order to for it to appear as if the entire income was being consum ed in the local country. From another viewpoint purchasing power parity is the number of a certain set basket of basic goods that can be purchased in a given country with the money that is produced by the said country. PPP exchange rates and the market exchange rates: There can be immense differences between the purchasing power parities and the market exchange rates between any set of

The end of the play Essay Example for Free

The end of the play Essay But Alfieri respects Eddie for being willing to lay down his life for what he sees as justice, even if he does not have the backing of law, when he says the truth is holy. Arthur Miller wrote in the NY Times article that Tragedy arises when we are in the presence of a man who has missed accomplishing his joy. But the job must be there, the promise of the right way of life must be there. Eddie is a tragic character because he will do anything for the truth, or what he sees as the truth. Alfieri later says he allowed himself to be wholly know and for that I will love him more than all of my sensible clients. He prefers Eddie to the more sensible people he has come across because he fought for justice. But Eddie isnt sensible enough to separate justice from his own feelings of indignation. His actions are driven mainly by self interest but he doesnt realise this himself and he breaks a code of honour which binds Red Hook together. He betrays Eddie and Marco to the authorities which is extremely dishonourable. After Beatrice tells Catherine about Vinny Bolzano who betrayed his uncle to Immigration. Eddie says you can quicker get back a million dollars that was stole than a word that you gave away. Honour is very important in the Italian-American community of Red Hook and Eddie is desperate for his reputation back at the end, so his death could be seen as his zenith. Eddies motives were not purely good, but himself purely. Alfieri sees it as an attractive aspect of Eddies character that he was not willing to sacrifice his dignity for a easier life even though he is aware of the problems it caused. The play draws to a close with the words And so I mourn him I admit it with a certain alarm Miller makes clear that Eddie is not a selfless hero, he is almost an anti-hero. In the end he loses everything; Catherine, his wife, his name. He can only fight Marco to the death. In death he restores some of his lost honour because he doesnt try to escape his fate. This can also be interpreted as Alfieris horror that Eddie destroyed himself and he was unable to stop it. Eddie is holding the knife as it stabs him, so he literally dies by his own hand so his death could also be seen as his nadir. This links with the part in his introduction at the start about lawyers before him sitting in their offices hearing similar cases, sitting there as a powerless as I, and watched it run its bloody course. reinforcing the sense of inevitably about Eddies downfall. Miller wants the ending of the play to inspire discussion and excuse us to question things we have previously accepted. He says in his definition of tragedy that it brings us knowledge or enlightenment as opposed to pathos which just brings us sadness, sympathy, on even fear, which just brings us sadness, sympathy or even fear. Without this final speech the play would just and with those things. Arguably, Alfieris speech is designed to bring us knowledge and enlightenment. On the other hands, Alfieri sounds confused. Miller certainly wants us to discuss the issues raised in his speech but Alfieri is not very persuasive in telling as why feels that something perversely pure calls out to [him] from [Eddies] memory. He sounds as if he has out much of an idea why he feels this way despite evidence to the contrary. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Arthur Miller section.

Congress and Human Cloning :: Argumentative Persuasive Topics

Congress and Human Cloning This year Congress may face several decisions that could help forge, in the words of Pope John Paul II, "the path to a truly humane future, in which man remains the master, not the product, of his technology" (Address to President Bush at Castel Gandolfo, July 23). The first and most immediately urgent of these decisions regards human cloning. The Weldon/Stupak Human Cloning Prohibition Act, approved 18-to-11 by the House Judiciary Committee, is poised for a vote by the full House. It should be approved without delay. Some researchers have already announced that they are trying to produce a live-born child by cloning -- despite an overwhelming scientific consensus that about 99% of new humans created by this method would die before birth, and the rare survivor would suffer from massive medical problems. The Weldon/Stupak bill addresses this looming tragedy at its source, by banning the use of somatic cell nuclear transfer to create a new organism of the human species. This bill is carefully crafted to address only this specific problem. It has no effect on in vitro fertilization or any other reproductive technology in current use, but deals only with cases of asexual reproduction which do not involve fertilization of egg by sperm. The bill explicitly exempts any use of cloning technology to produce animals, plants, DNA, tissues, or cells other than human embryos (including stem cells which are not themselves human embryos). Proponents of cloning nonetheless argue that this bill somehow interferes with a procedure that is essential to stem cell research. Until now, of course, these same groups were insisting that embryonic stem cell research could be fully pursued using only "excess" embryos created by in vitro fertilization that "will be discarded anyway." Now they say that mass production and destruction of cloned embryos to provide genetically matched stem cells will be needed to take stem cell research from the laboratory into the clinic. While the cloning debate is now forcing such groups to admit that their earlier statements may not be true, their new claim is also open to serious question. The National Institutes of Health's new report on the science of stem cells cites cloning as one way to prevent rejection of embryonic stem cells as foreign tissue, but cites other approaches as well -- and expresses great uncertainty as to whether these cells will provoke a significant immune reaction even without such manipulations (NIH, Stem Cells: Scientific Progress and Future Research Directions, June 2001, pp. Congress and Human Cloning :: Argumentative Persuasive Topics Congress and Human Cloning This year Congress may face several decisions that could help forge, in the words of Pope John Paul II, "the path to a truly humane future, in which man remains the master, not the product, of his technology" (Address to President Bush at Castel Gandolfo, July 23). The first and most immediately urgent of these decisions regards human cloning. The Weldon/Stupak Human Cloning Prohibition Act, approved 18-to-11 by the House Judiciary Committee, is poised for a vote by the full House. It should be approved without delay. Some researchers have already announced that they are trying to produce a live-born child by cloning -- despite an overwhelming scientific consensus that about 99% of new humans created by this method would die before birth, and the rare survivor would suffer from massive medical problems. The Weldon/Stupak bill addresses this looming tragedy at its source, by banning the use of somatic cell nuclear transfer to create a new organism of the human species. This bill is carefully crafted to address only this specific problem. It has no effect on in vitro fertilization or any other reproductive technology in current use, but deals only with cases of asexual reproduction which do not involve fertilization of egg by sperm. The bill explicitly exempts any use of cloning technology to produce animals, plants, DNA, tissues, or cells other than human embryos (including stem cells which are not themselves human embryos). Proponents of cloning nonetheless argue that this bill somehow interferes with a procedure that is essential to stem cell research. Until now, of course, these same groups were insisting that embryonic stem cell research could be fully pursued using only "excess" embryos created by in vitro fertilization that "will be discarded anyway." Now they say that mass production and destruction of cloned embryos to provide genetically matched stem cells will be needed to take stem cell research from the laboratory into the clinic. While the cloning debate is now forcing such groups to admit that their earlier statements may not be true, their new claim is also open to serious question. The National Institutes of Health's new report on the science of stem cells cites cloning as one way to prevent rejection of embryonic stem cells as foreign tissue, but cites other approaches as well -- and expresses great uncertainty as to whether these cells will provoke a significant immune reaction even without such manipulations (NIH, Stem Cells: Scientific Progress and Future Research Directions, June 2001, pp.

Investigatory Project Essay

Introduction Oil used in cooking foods is commonly derived from vegetable. Cooking oil is high in fat calories. Unsaturated and saturated oils have approximately the same number of fat grams and calories. Olives, safflower, corn, cottonseed, canola, sunflower seed, soy palm and coconut oil all contain about 13.5 grams fat and 120 calories per tablespoon. Cooking oil is commonly used for frying and it’s usually thrown away. The recycling of cooking oil also provides a form of revenue for restaurants, which are sometimes compensated by cooking oil recyclers for their used deep fryer oil. Cooking oil recycling also results in less used oil being disposed of in drains, which can clog sewage lines due to the build-up of fats. Abstract This investigatory project determines the possibility of purifying used cooking oil using sedimentation method. The activated carbon was also used in the experiment to absorb some dissolved substances in the oil. The purified oil was compared to commercial oil in terms of color, odor and clearness using acceptability test The means of the samples were compared and revealed that purified oil had no significant difference to commercial cooking oil in terms of color/clearness and odor as the result of the acceptability test. Statement of the Problem This Investigatory project aims to answer the following questions: Can this purified vegetable oil become clearly as new oil? Is the product will be effective and safe to use? Is this product may lessen your daily expenses? How many times does this purified vegetable oil can be use? Objectives of the Study The Objective of the study are: To help you to lessen your expenses in home because it’s thrifty. To make the vegetable oil purified as new cooking oil. Significance of the study: The used cooking oil cause problem to the kitchen pipes, clogging them and creating odors, therefore all of us, the students should do campaigns of information so our people understand the need to recycle the used cooking oil. Some of the products that we can get from recycling used cooking oil are: detergents, candles, soap, paint, waxes and varnishes. We can get fertilizer for the agriculture too.And very important it can be recycled to make bio-diesel for engines in general. For every liter of used cooking oil that is recycle, one liter of bio-diesel can be produce. Chapter II Review of Related Literature Name: Cooking oil Background: Cooking oil is plant, animal, or synthetic fat used in frying, baking, and other types of cooking. It is also used in food preparation and flavouring that doesn’t involve heat, such as salad dressings and bread dips, and in this sense might be more accurately termed edible oil. Cooking oil is typically a liquid at room temperature, although some oils that contain saturated fat, such as coconut oil, palm oil and palm kernel oil are solid. For centuries, people have rendered fat, squeezed olives, collected cream and savored fish to obtain the fatty acids their brains, nervous systems, immune systems and body cells need to function well. Luckily for us, things are a bit easier these days and the oils we need for good health are available on the shelves at Whole Foods Market. they don’t improve with age. Heat and light can damage oils, particularly polyunsaturated ones, so keep them in the refrigerator to avoid rancidity. For the record, you’ll know your oil is rancid if it takes on a characteristic bad taste and smell, in which case you should toss it and buy fresh oil. Heating oils beyond their smoke point — the temperature at which the oil begins to smoke, generating toxic fumes and harmful free radicals — is never a good idea. Always discard oil that’s reached its smoke point, along with any food with which it had contact. Some oils are refined to make them more stable and suitable for high temperature cooking. Keep in mind, though, that the process removes most of the flavor, color and nutrients from the oils, too. That’s why  refined oils are perfect for baking and stir-frying, where their high smoke point and neutral flavors are a plus. On the other hand, unrefined oil is simply pressed and bottled so it retains its original nutrient content, flavor and color. Unrefined oils add full-bodied flavor to dishes and are best used for low- or no-heat applications. http://en.wikipedia.org/wiki/Cooking_oilhttp://www.wholefoodsmarket.com/recipes/food-guides/cooking-oils

American Film History: Fred Astaire and Ginger Rogers

Agnes de Mille once said that â€Å"the truest expression of people is in its dance and in its music.   Bodies never lie†. (Warner, p30)   And indeed, Fred Astaire and Ginger Rogers, a most famed dancing duo epitomized the meaning of words and emotions through their dance that was ever caught in film.As such, while both film actors never gained recognition in their acting careers in their 10 renowned musicals, they nevertheless received their most deserved place in the history of American film as iconic symbols of dance that brought poetry and song to the human body.Fred and Ginger are Broadway actors before they came to Hollywood. Fred was a stage dancer and choreographer whose career in acting and dancing started at a very early age during which he partnered with his sister Adelle in Vaudeville shows.When his sister married, he went on his own to make a name in a Broadway musical, â€Å"Gay Divorce†. (Harvey and Sennett, pp 23-25) Ginger on the other hand started her Broadway debut in â€Å"Top Speed†, which catapulted her to a lead role the following year in the musical, â€Å"Girl Crazy†.   In 1931, the movie, â€Å"The Tip Off† marked her entry to Hollywood.(Whissen, p282-283)   Both Fred and Ginger have outstanding and blossoming careers apart from each other, until their first pairing came in 1933 in a film that will lead to the discovery of the unparalleled chemistry and charisma of their dancing prowess to the astonishment and delight of the viewing public.   This marked the commencement of a dance collaboration that will entertain the American people in the next couple of decades that continued to remain unrivaled in the world up to this date.Flying Down To RioIn 1933, â€Å"Flying Down to Rio† was rendered into a film and first featured Fred and Ginger dancing together.     Ã‚  It was a love triangle story between Roger, Belinha and her fiancà ©, Julio.   Roger leads an orchestral band where Fred and Ginger are members.Fred was the assistant band leader who played the accordion while Ginger was the lead vocalist for the band.   In pursuing the love of Belinha, Roger left his band which gave the opportunity for Fred to step up.   In the end, Roger and Belinha successfully get together leaving the band to Fred and Ginger.Both Fred and Ginger were not the lead characters in the film but their dance performance especially in the airplane-wing-dance at the end of the story took the limelight that overshadowed the plot and the main characters of the story.   In fact, the pair’s performance is what enjoined the people to watch the film and gained its critical acclaim.Incidentally, one of the notable dance moves introduced in the movie is the forehead-to-forehead stance, the Carioca, which introduced the sensual samba dance to US movie audiences.(Berry, p131) This instantly became a national dance craze. The movie claimed its due place in the American film history for unearthing the dance magic of Fred and Ginger that obtained vast appeal among the masses and initiated their unequaled dance partnership in the coming years.