Sin and Personal Growth in The Scarlet Letter Essay -- Nathaniel Hawth

The Scarlet Letter was written by Nathaniel Hawthorne and was first published in 1850. Hawthorne’s purpose for The Scarlet Letter was to show how anybody can sin, and that sin should be used as an example to learn from. Hawthorne also made clear that good can come from sin and that sin can help a person grow. Hester Prynne is the main character of the book. She is still young when she has her child, Pearl. She is a strong and determined, and uses her past sin, and the â€Å"A† as something to learn from rather than something to be ashamed of. After the shame of getting the â€Å"A,† she moved into the outskirts of town and became a seamstress. The way she was able to move on from her sin and continue her life, even after being scorned and humiliated, is proof of her strength. Years later, when her sin is almost completely forgotten her benevolence is shown in how she cares for the physical and spiritual needs of people in the community. Pearl is Hester and Reverend Dimmesdale’s illegitimate daughter. Although Pearl is described as beautiful, throughout the book, she is consistently described as â€Å"impish† and â€Å"elfish.† These strange descriptions, as well as her odd behavior, make her seem inhuman, and make the townspeople view Pearl as sin-embodied and the devil-child. Pearl is very smart, and even at a young age she becomes aware of the scarlet letter and recognizes that is has some kind of significance. The quote, â€Å"One day, as her mother stooped over the cradle, the infant’s eyes had been caught by the glimmering of the gold embroidery about the letter, and, putting up her little hand, she grasped at it, smiling, not doubtfully, but with a decided gleam, that gave her face the look of a much older child.†, shows how she draws attention ... ... view, Hawthorne writes, â€Å"On the wall hung a row of portraits, representing the forefathers of the Bellingham lineage, some with armor on their breast, and others with stately ruffs and robes of peace.† Hawthorne serves his purpose by combining his detailed characters, his informative writing style, and his ongoing themes throughout the book. Some of his predominant themes in the book are how sin can lead to personal growth and the battle between good and evil. Over the seven years of wearing the scarlet letter, Hester grew a lot, and after finding out about Chillingworth, Dimmesdale underwent a change as well. The way that sin can lead to personal growth is seen in their lives. The battle of good and evil is seen in the lives of Reverend Dimmesdale and Chillingworth. Evil needs good in order to survive. Soon after Dimmesdale’s death, Chillingworth died as well.

JP Morgan and Bear Stearns Essay

Background In the last three decades, the US banking system has changed its investment procedures and its risk management due to changes in government regulation. Furthermore, external shocks, such as the inflationary period during the 70s and the recession in the 80s, led Banking institutions to alternative ways of investment in order to remain profitable. The average annual inflation rate from 1900 to 1970 was approximately 2.5%. From 1970, however, the average rate hit about 6%, topping out at 13.3% by 1979. This period is also known for â€Å"stagflation†, a phenomenon in which inflation and unemployment steadily increased. A loose monetary policy led to very low interest rates. Corporations were borrowing large amounts to finance leverage buyouts (LBOs), which led to higher and high interest burden. One of the main instruments used was financial derivatives, which gave Banks additional profit. Moreover, this instruments represented off balance sheet activities, thus helping bank cap ital. Nonetheless, these instruments were risky and could led to enormous losses. In the late 70’s and early 80’s saw the rise of a number of financial products such as derivatives, high yield an structured products, which provided lucrative returns for investment banks. Also in the late 1970s, the facilitation of corporate mergers was being hailed as the last gold mine by investment bankers who assumed that Glass-Steagall would someday collapse. At this time we could see the first efforts to loosen Glass-Steagall restrictions and some brokerage firms begin encroaching on banking territory by offering money-market accounts that pay interest, allow check-writing, and offer credit or debit cards. Moreover, in 1974 NOW (Negotiable Order of Withdrawal) accounts were created by a small bank in Massachusetts, offering negotiable orders of withdrawal to permit payments on near-checking accounts at banks. In 1980, they were permitted for all institutions, with rate ceilings eliminate d in 1986. Bear Sterns and crisis As an investment bank, Bear Stearns & Co. had three main operating businesses. The first one was Capital Markets, which included brokerage services, market-making and proprietary trading in both equities and fixed income. Moreover, this Capital Markets business also included investment banking services such as securities issuance and advice on mergers and  acquisitions. Its fixed income business represented the highest contribution to its revenue. The second operating business was Global Clearing Services which included the company’s well-regarded prime brokerage business. Bear Stearns provided trade execution and securities clearing, custody, lending and financing to hedge funds and broker-dealers as a prime broker. The third operating business was Wealth Management which included Bear’s Private Client Services group, which served high-net worth individuals, and Bear Stearns Asset Management, which managed hedge funds and other investment vehicles. Bear Stearns & Co. was an investment bank, a financial intermediary that performed a variety of services. As an investment bank it specialized in large and complex financial transactions. Its primary regulator was the Securities and Exchange Commission and did not have access to the Federal Reserve discount window, which allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions unlike commercial banks. The main difference between a commercial bank and an investment bank such as Bear Stearns was that while commercial banking involved both taking deposits and making loans that remained on the lender’s balance sheet, investment banking involved the underwriting of debt and equity securities, buying them from the issuer typically with a syndicate of other firms and then selling them on to investors. Many years ago it was difficult to say whether a bank engaged in commercial activities or investment activities, however, the Congress prohibited investment banking and commercial banking in the same firm in 1993. But in 1999 these laws were modified and some commercial and investment banks consolidated although Bear Stearns as well as other banks such as Goldman Sachs and Lehman Brothers chose not to enter the commercial banking business so as a result they did not have access to the Federal Reserve discount window. FED Chairman Christopher Cox said that Bear Stearns was adequately capitalized â€Å"at all times† but facing skeptical lawmakers, Cox acknowledged that the firm had massive liquidity problems and that â€Å"capital is not synonymous with liquidity.† He said the SEC is working with the five biggest Wall Street firms to make sure they increase their liquidity pools and  redouble their focus on risk practices. On March 13, he indicated that liquidity at Bea r Stearns fell from $12.4 billion to $2 billion because of â€Å"the complete evaporation of confidence† in the company. Considering Mr. Cox’s statements, we ask ourselves if all well-capitalized financial institutions are vulnerable to crisis periods. In order to arrive to a conclusion in this matter we have considered a well-capitalized as a firm with a healthy liquidity status. From our point of view, we consider that some financial institutions, such as big investment banks, are so important to the global economy that should they fall, the repercussions would be too fatal and governments would be forced to intervene and rescue them in order to keep the economy from collapsing. This is the reason why the term â€Å"to big to fail† arose. In spite of this, as Nassim Nicholas Taleb said, we could face a â€Å"black swan case†, which refers to an event, positive or negative, that is deemed improbable yet causes massive consequences. Bear’s activities were financed with a mix of long term debt, equity, and financing collateralized with securities from Bear’s inventory. Besides this, Bear’s trading business required the investment bank to constantly hold an inventory of securities; these securities were used as collateral for short term borrowing agreements known as repurchase agreements (repos). If we compare Bear with other financial institutions like, for example, Leman Brothers, Merrill or Morgan Stanley we can easily see that those companies had much more weight in liquidity than Bear Stearns. It was below those three in repo financing and repo lending too. Specifically, Merrill Lynch had total liquidity of 181.9 while Bearn Stearns had 35.3 and total liquidity as percentage of repo financing was 77% in Merrill and 345 in Bearn Stearns. Bear Stearns nearly collapsed not once but twice before the cash-strapped brokerage firm was rescued. The leverage suffered by Bear Stearns at that time increased the risk of becoming bankrupt. This was because, with a big leverage, losses are larger and can consume the firm’s entire equity to the point where the book value of the company is zero or even negative. In the worst case scenario, Bearn Stearns, being counterpart for many repo agreements and other financial instruments could result in default on their payments, which is why it ended up being rescued. By knowing this facts we can tell that the firm’s value would indeed be negatively affected by a potential bankruptcy. Valuation To give a price to pay for Bear Stearns’ ongoing businesses we have to use a valuation method. Being unable to perform an adequate due diligence we are not going to be able to know the actual risk of many of the assets, and therefore unable to use the real value. For this reason, the valuation method we are going to use is the Book Value per Share, which by definition indicates the remaining value of a company for its shareholders, should it dissolve, which is quite similar to the process Bear Stearns is going through. To find the book value, we have to take the total shareholder equity and subtract from it all preferred equity. In order to do so, we have to take a look at the balance sheet, provided in the Exhibit 2, where we can find the unaudited balance sheet for the Q1 2008. There we can see that Total Stockholders’ Equity in that period was $11,896 million. From that equity we have to subtract the preferred stock, which is $352 million. 11544 Doing so we obtain a value of $11,544 million, which divided by the number of total shares outstanding should give us the book value per share of the company. Looking at the balance sheet, we can see that it gives the outstanding shares. We have 500,000,000 shares authorized as of November 30, 2007 and 2006; 184,805,847 shares issued as of November 30, 2007 and 2006. We can see it better this way: Nov. 30, 2007 Nov. 30, 2006 Authorized 500,000,000 500,000,000 Issued 184,805,847 184,805,847 This makes a total of 1,369,611,694 shares. But the company also has Treasury stock, it has repurchased some of the shares it had previously issued. It says that the treasury stock is composed of common stock: 71,807,227 and 67,396,876 shares as of November 30, 2007 and 2006, respectively. This means that the company has bought, in total, 139,204,103 shares. Subtracting the  value to the issued and authorized shares, we have the total number of outstanding shares. So, to find the Book Value per share, we divide the $11,544 million of equity by the 1,230,407,591 shares, turning to be $9.38 per share, very close to the price JP Morgan ended up paying. However, I would say this value is too high, due to the great amount of uncertainty regarding the exposition of Bear Stearns to the MBS market and the great illiquidity risk it is facing.

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Reflection Group Reflection - 830 Words

I completed this reflection process using Gibb’s reflective cycle. I am grateful to my lecturer and fellow class members for helping me through this experience. Description My group’s presentation was on ‘Nutrition’ which focused on Maori adolescents aged 10-12 years. We all stood at the front of classroom presenting the topic to our lecturer and fellow classmates. For a clearer explanation of each section we used PowerPoint slides. In order to capture the audience’s attention, we avoided adding too much text on the slides and used pictures, tables or quotes instead. In the final section, we tried to engage the audience by showing a video rather than constant verbal explanation. Feelings I felt really nervous during my presentation. I†¦show more content†¦Psychological research has shown that losing eye contact with audience can render the presentation far less effective (Littlejohn Foss, 2009). My speech was just like a direct conversation with the audience because I could recite all of my notes. Otherwise, if I only read from notes all the time, it would have been impossible to have eye contact with the audience and retain their interest. On the other hand, one area that requires improvement is speech delivery rate. My lecturer and four class members all pointed out that my speech was too quick to follow, so I should pay more attention to reducing the pace. My nervousness and shyness during presentation made me tend to finish my speech as quickly as possible. Too fast speech discloses a person’s nervousness and a lack of control, which will influence audiences to receive messages and understand it. Aryadoust (2015) identifies that maintaining a suitable speech delivery rate is a key factor that can affect speech intelligibility. A study also revealed that presenters’ lack of this skill leads to listeners’ misinterpretation of verbal input (Aryadoust, 2015). Analysis I believed that insufficient practice is the key factor that hindered me to deliver an effective presentation in depth. Before our presentation, we only took 20 minutes to practice together. This led to an unclear transition between members. I only spent around one hour practicing which was really not enough. MyShow MoreRelatedGroup Reflection : Group Process767 Words   |  4 PagesGroup Reflection Group My concept of what a group consist of is a story that needs to be told and heard from many people with similar issues or problems. The group is a tool to help each member to gain some insight on how they can change or make a difference in their lives for the future. I feel that a group is a place where new relationships can develop and to find self again. Group Process The group process is facilitated by a counselor by the process has to be done by the members. 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The Constitution Of The Amendment - 2425 Words

We, the People, have for too long ignored the framers intent on the relationship between the separation of powers between the Federal and State government. The abdication of responsibility for protecting the 10th amendment, not only by our elected officials but by citizens as well, deviates the subtle balance of power in our nation to a detrimental state. The United States of America is just that, united States, that have the power to legislate for their constituents any laws not delegated to the Federal government inside the Constitution. With the overreach of the Federal government using the Commerce Clause, the Necessary and Proper Clause, enacting the 17th amendment, and using the â€Å"power of the purse† the 10th amendment stands as a former shadow of itself being regulated to a pawn piece in political maneuvers to show voters that individual State Senators still hold sway in protecting State’s rights. We should adhere to the original intent of the 10th amendme nt the State’s rights, which include everything not enumerated by the Constitution in Article I, will not be diluted or taken away by a central planner whose bureaucracy and laws could end in tyranny if ignored. When the Bill of Rights were ratified, explicit rights were given to citizens in the first nine amendments, with the 10th amendment dictating any power the federal government did not have were the powers of the State. Our Framers never envisioned a strong central government and instead chose a nationShow MoreRelatedThe Amendment Of The Constitution959 Words   |  4 PagesThe Fourteenth Amendment of the Constitution is considered by many to be the catchall amendment within the reconstruction amendments that passed not long after the Civil War. Its due process and especially the equal protection clause have single handily changed the course of American History for all eternity. 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Q Manual free essay sample

There are many people whose valuable contributions to this edition of the Q Manual must be acknowledged. They include (in no particular order): Andrew Dixon, Coalfield Campus Library David Horn, Coalfield Campus Library Owen Hughes, Faculty of Business and Economics Sally Joy, Faculty of Business and Economics Lynn Macdonald, Faculty of Business and Economics Michael Scourge, Department of Accounting and Finance Claire Tanner, F-cults of Arts Our special thanks go to Lynn Macdonald and Claire Tanner for the many hours spent collating and editing the content and for coordinating production of the Q Manual.Without your efforts and patience, this edition could not have been published. Sincere thanks also go to my dear friend and colleague, Glenda Crossing, who has collaborated with me for many years on a number of significant educational projects for the faculty. A dedicated educator, Glenda works enthusiastically and tirelessly, keeping an open mind, and most importantly, always retaining her wonderful sense of humor! Glenda also thanks Nell for her collegiality, dedication, inspiration and hard work on this and other educational projects. Together, we have produced a publication that we hope will assist you in your tidies. Finally, we wish you a stimulating, challenging and rewarding learning experience throughout your undergraduate and postgraduate studies with the Faculty of Business and Economics. Nell Kimberley Department of Management Faculty of Business and Economics January, 2008 Glenda Crossing Education Adviser Faculty of Business and Economy CICS Chapter 1 Introduction 1. 1 Welcome Congratulations on your selection to study one of the courses offered by the Faculty of Business and Economics at Monish University.This manual is intended to provide you with information on how to produce quality work ND achieve the best possible results in your examinations. The major goal of the university is to assist you to obtain an excellent education so that you may take your place in society as a well-qualified graduate. It is important to note that while the courses provide the teaching support and the necessary framework for your studies, success can be achieved only through your personal commitment and dedication to hard work throughout all the years of your course.The following information is aimed at familiarizing you with the Monish University study environment and increasing your effectiveness s a Monish student, thereby enabling you to reach your potential. For those of you who are experiencing university level study for the first time, this manual will la y an important foundation and prepare you for a new world. 1. 2 Monish university Monish University was established in 1961 and named after General Sir John Monish (1865-1931 Sir John was a soldier, scholar and engineer, and the Commanding General of the Australian forces in France in World War 1.In addition, as the first Chairman of the State Electricity Commission, he took on the immense task of overseeing the development of the LaTrobe Valleys brown coal resources. Sir John was a man of wide interests and vast intellectual range. He was this country first Doctor of Engineering and exemplifies the University motto Anchor Impart (l am still learning). The university now has a population of more than 50,000 students from over 1 00 countries, who speak 90 languages. There are eight Monish campuses and two centers, in Italy and London. The primary pursuits of teaching and research are carried out in the universitys ten faculties. The faculties, which each cover a specific body of knowledge, are: Art and Design; Arts; Business and Economics; Education; Engineering; Information Technology; Law; Medicine, Nursing and Health Sciences; Pharmacy; and Science. 1. 3 1 . 3. 1 Faculty of Business and Economics Goals The aim of the faculty is to use its scale, scope and unique internal diversity to become an international leader in the pursuit, dissemination and analysis of knowledge, particularly in the disciplines of accounting banking econometrics, economics, finance, management, marketing, and tourism.By the application of such knowledge, its staff and students will contribute to the economic, social and commercial development of Australia and other countries in an increasingly globalizes environment. 1 . 32 Faculty structure The Faculty of Business and Economics is the largest faculty in the university, with more than 1 7,000 students enrolled over five Australian campuses at Berwick, Coalfield, Clayton, Spalding and Peninsula, as well as in Malaysia and South Africa.In addition to a diverse range of undergraduate bachelors degrees, the faculty offers a comprehensive range of graduate courses including an executive certificate, graduate certificates and diplomas, masters degrees by coursework and research, the Master of Business Administration, the Doctor of Business Administration, the Master of Philosophy and the Doctor of philosophy. Courses are delivered on campus, usually through lectures, tutorials and Web Vista, while officious students are catered for by distance education. The Dean and the main faculty office are located on the Coalfield campus.In addition, there are faculty staff located at the other campuses. Go to http:// move. Busses. Monish. Deed. AU/student/contact/ for location and contact details. 1 . 33 Departments and centers The Business and Economics faculty is subdivided into organizations that are responsible for particular areas of knowledge. There are six departments and two research centers. The departments are: Accounting and Finance, Business Law and Taxation, Econometrics and Business Statistics, Economics, Management, and Marketing. The research centers are: Centre of Policy Studies, and Centre for Health Economics.They cover fields of study including accounting, banking, business law, business statistics, economics, econometrics, finance, international business, management, human resource management, marketing, taxation and tourism. Whatever your major or areas of study it is essential that you have an understanding of each of the disciplines and how they interact with each other in the overall operations of business organization. 1 . 3. 4 Aims for learning at Monish University and in the Faculty of Business and Economics The university and the faculty recognize the needs of students for their lives following graduation.As a Monish graduate you will be operating in a globalizes and rapidly-changing world, and the university and faculty aim to develop in students attributes beyond the ability to understand and operate competently with course and unit content. The aims are that students will develop in ways that will enable them to: Engage in an internationalists and increasingly globalizes world; Engage in discovery, analysis, integration and application for problem solving and learning with knowledge; Communicate competently orally and in writing across cultures and settings, including their specific disciplines.As you undertake your studies, you will notice an emphasis on these attributes and you will be engaged in activities and tasks to help you develop them. In the following chapters of this guide, we explain the influences of these attributes on your approach to study. 1 . 3. 5 Units Each department offers a wide range of undergraduate and postgraduate units. In a three-year undergraduate degree, there are twenty-four units, with our units to be taken in each semester (part-time students would normally undertake two units each semester). The unit leader or coordinator is responsible for the administration of the particular unit. You can consult with your unit leader, and or coordinator in larger units you may also consult with the other lecturers and tutors. 1 . 3. 6 Role of lecturers/tutors Lecturers and tutors have a key role as facilitators Of your learning. They are able and most willing to help you With your studies and can be contacted using your student email account. Their email addresses are located in the unit outline. Alternatively, academic staff can be contacted during their consultation hours which are often posted on their door or outside the main administration office. 1 . 3. 7 Role of on-line sources of information Monish has adopted a learning management system which provides you with access to on-line unit information. The web contains information that you need to know for the unit, both of an administrative nature as well as useful material for your studies. 2 1. 3. Role Of course directors/coordinators If you are encountering academic performance issues, course progression and similar problems you should initially discuss these with enrolment officers or course advisers. You may, occasionally, then be referred to course directors or course coordinators to help with these issues. Undergraduate students are referred to course directors or course coordinators by the faculty office and postgraduate students by departmental administration staff. If referred, course directors and coordinators are available during their consultation hours. . 3. 9 Additional important information The Undergraduate and Postgraduate Handbooks and the Student Resource Guide provide important information regarding various aspects of university life. The Student Resource Guide is distributed to all students at the time of initial enrolment and is available on-line at www. Monish. Deed. AU/pubs. It contains details of the university code of practice for teaching and learning, as well as grievance and appeals procedures. Further copies can be obtained from Student Service Centers on all campuses.An excellent resource for students is also available on-line via the student link on the Business and Economics Faculty website at http://www. Busses. Monish. Deed. AU/student/. The site contains links to important information regarding: courses and units, admissions and enrolments, schools and departments, exams and results, administration, study resources, calendars and timetables, IT and computing, support services, careers and employment, international students, and clubs and associations.Faculty expectations of student performance As students of the faculty, there are a number of units that you will study as part of your course. Although these units may have differing methods of assessment, the faculty has the following expectations of your behavior and performance. 1. 4. 1 Attendance and participation at lectures and tutorials Lectures and tutorials are central to your performance in the university. Lectures provide the material you require in order to understand the overall nature and direction of the unit.Important concepts and analysis can be emphasized by the lecturer and put into context for the student. Tutorials are a vital part Of your studies. They reinforce lecture material and provide you with an opportunity to discuss material presented in lectures, as well as to ask questions. Tutorials also provide you with the opportunity to develop your oral communication skills. The material presented is not designed to vive you one view on a topic but to facilitate your understanding of the issue under discussion.

Business Economics Case Study by Experts

Question 1-Define price elasticity of demand. How you will use to define an "inferior good". Give two examples of an inferior good? Answer- Price Elasticity of Demand: The price elasticity of demand is one of the economic measures for showing the responsiveness of the changes in demanded quantity as a result of the price change. The price elasticity of demand refers to the responsiveness of the quantity demanded as the price changes when all other factors or determinants of demand remains the same (Frank and Cartwright, 2013). It is basically the percentage change in the quantity demanded as a result of a percentage change in the price. Thus the price elasticity of demand is elastic when the percentage change is quantity demanded is higher than the percentage change in price and the price elasticity of demand is inelastic if the percentage change in quantity demanded is lower than the percentage change in price. The price elasticity of demand is usually negative as the quantity demanded falls due to an increase in price and vice versa. Ed = (Percentage change in quantity demanded / Percentage change in price) Inferior Good: An inferior good can be referred as the good, the demand of which decreases when the income of the consumer increases or vice versa (Perloff, 2012). It is one of the contradictory cases and opposite of normal goods whose demand usually increases as the income increases. For an inferior good the income elasticity of demand is negative as the demand for the good decreases when the income increases. Here two examples of an inferior good can be given. First example is second hand goods. They are inferior good as, when the income of the consumer increases, the demand for second hand goods fall as they prefer new products. Second example can be given as cheap bus service. When the income of people increases they prefer taxi or new cars over bus. Question 2-In which market structure would you place each of the following products: Monopoly, oligopoly, monopolistic competition, or perfect competition? Why? A- Water and sewerage service. B- Breakfast cereal Answer- Market Structure Specification: Water and Sewage Service: Water and sewage service can be categorised in the monopoly market structure. Here it can be said that the public utilities like the water and sewage facilities are often identified as natural monopolies. The main characteristics of the service that resembles the monopolies are single supplier to all the consumers in the market (Perloff, 2012). The water and sewage facilities in a location are usually large enough to supply cost effectively the entire market. There are barriers of entry in the market for new suppliers. The service providers have certain degree of market power and they can influence the price and quantity supplied in the market. Breakfast Cereal: The breakfast cereals can be categorised in the market structure of monopolistic competition. The main characteristics that resembles the breakfast cereal market with the monopolistic competition is that the suppliers produces and supplies differentiated products in the market and the products are close substitutes of one another. The products are basically differentiated by branding like the Kelloggs brand is highly valued in the market than other brands like Malt-O-Meal and Post Foods. Like monopolistic competition, there are many firms in the industry supplying the products to many customers (Pindyck and Rubinfeld, 2013). There are no barriers to entry or exit and the producers have certain degree of market power. The companies are involved in non-price competition in terms of establishing the brand value and advertising. Question 3-Explain the differences between demand pull and cost push inflation? Answer- Difference between Demand-pull and Cost-push Inflation: Inflation can be referred as the aggregate rise in the general price level of an economy. The inflation can be demand pull or cost-push. The demand pull inflation basically occurs when the general price of the economy increases sue to an increase in the aggregate demand of the economy. When the aggregate demand of the economy rises more than the aggregate supply of the economy then it also increases the price level as the suppliers will make the prices higher due to such high demands. The inflation caused by excess demand in the industry leads to demand-pull inflation. In the following diagram the demand pull inflation can be shown (Kim and Lin, 2012). It is seen that, when the aggregate supply remains the same, a shift in the aggregate demand increases the output and the price level in the economy. The cost-push inflation on the other hand occurs when the general price level of an economy increases due to a rise in the cost of goods and services. Thus the cost-push inflation can be seen in an economy when the cost of production for the firms increases significantly and as a result the supply of the products mat fall. This leads to a leftwards shift of the supply curve where the demand remains the same (Mankiw, 2013). A lower supply in the market also increases the general price level and it is referred as the cost-push inflation. In the following diagram, it can be seen that when the supply curve shifts to the left and the aggregate demand remains the same, it leads to an increase in the price level and a decrease in the output of the economy. Question 4-Identify the key factors affecting the demand of currency? Answer- Factors Affecting Demand of Currency: The demand for money or currency can be impacted by various factors like the inflation rate, interest rate, level of income etc. Here the three main motives or factors affecting the demand for currency are speculative, precautionary and transaction (Krugman and Wells, 2013). Transaction Motive: It is known that currency is required in order to perform transaction of goods and services with money. Thus the demand for currency increases, when the transaction requirement increases. The transaction demand for currency increases when the GDP or the economy increases (Krugman and Wells, 2013). Precautionary Motive: The demand for currency can also be affected by the precautionary motive of the people. It is known that people can demand money for taking precautionary measures against uncertain future. There can be repair bills or medical costs that can occur in the future and such factors can affect the demand for currency. Speculative Motive: The demand for currency can also be affected by the speculative motive of the people. It is known that money is an asset and the demand for money usually depends on the opportunity cost of holding money and the rate of return in the market. Thus speculative demand for money occurs when it is less risky to hold money in hand than lending or investing. So these are the main factors affecting the demand for currency. Question 5-Oil price have risen temporarily due to political uncertainty in the middle east. An advisor suggests,higher oil prices reduce aggregate supply. To offset this we must increase the money supply. Then the price level won't need to adjust to restore equilibrium , and well prevent a recession? Answer- Rise in Oil Prices: In this case it is seen that the oil prices has risen temporarily due to the political uncertainty in the middle-east. It is suggested by an advisor that the aggregate supply of oil will be affected due high oil prices. In order to offset the impact, it is important to increase the supply of money in the economy. Then it will not be necessary for the price level to adjust for restoring the equilibrium and a recession can be prevented as well. Here it can be said that a higher supply of money is the market can offset the impact of higher price of oil as people will have more money in hand and the value of money will decrease (Hubbard and O'Brien, 2013). It is known that higher oil prices will reduce the aggregate demand but it will increase the aggregate supply thus in order to avoid recession in the market, measures must be taken to increase the aggregate demand. Increasing the money supply may resolve the issue but it is also evident that increase in the money supply increases the i nflation in the economy and thus even higher inflation may worsen the situation and it can lead to recession (Hubbard and O'Brien, 2013). The policy is thus not correct the money supply should be reduced instead of increasing. As a result it will lower the output and increase the real interest rate and thus recession can be avoided. Question 6- It is a role of every government to smooth the business cycle.Every economy faces different challenges including the business cycles that may emanate from the global market.Try to examine measures taken by the UK'S coalition government in trying to ensure that the economy benefits every citizen and reduces overall burden of it (Q E,FISCAL POLICY,MONETARY POLICY,MULTIPLIER EFFECT)? Answer- Business Cycle: It is the responsibility of every government to smooth the business cycle. There are various challenges that are faced by every economy and these challenges can emanate the industries from the global market (Hoxley, 2010). Here the measures that are taken by the coalition government of the UK for ensuring the benefits in the economy for every citizen and so that the burden can be reduced. It is known that various measures are taken by the coalition government in order increase in the efficiency in the market. A growth review is launched by the coalition government. The main aim of the policies is to strengthen the growth of the GDP in the country as it was difficult for the country to overcome the recession. They have implemented the fiscal decisions for improving the supply side in the economy. The fiscal policies are implemented for boosting the supply side efficiencies, investments and incentives (Painter, 2012). The government has increased the spending on infrastructure, and the y have lowered the corporate tax rate. The coalition policy was also used to cut the deficit in the budget. A fiscal austerity policy was used where the tax rate was increased and the spending of the government was cut for reducing the budget deficit. These measures helped in recovering the economy from the recession. References Frank, R. and Cartwright, E. (2013).Microeconomics and behaviour. Maidenhead: McGraw-Hill. Hoxley, M. (2010). UK coalition government.Structural Survey, 28(4). Hubbard, R. and O'Brien, A. (2013).Macroeconomics. Boston: Pearson. Kim, D. and Lin, S. (2012). Inflation and Inflation Volatility Revisited.International Finance, 15(3), pp.327-345. Krugman, P. and Wells, R. (2013).Macroeconomics. New York, NY: Worth Publishers. Mankiw, N. (2013).Macroeconomics. New York, NY: Worth. Painter, C. (2012). The UK Coalition government: Constructing public service reform narratives.Public Policy and Administration, 28(1), pp.3-20. Perloff, J. (2012).Microeconomics. Boston: Pearson Addison Wesley. Pindyck, R. and Rubinfeld, D. (2013).Microeconomics. Boston: Pearson.