Explain the harmful effects of drugs such as ecstasy on the individual

In recent years, the rising use of addictive drugs has become one of the biggest social problems menacing certain countries. The illicit use of a variety of drugs appears to be increasing. Generally, a drug can be a substance, other than those required for the maintenance of normal health, which by its chemical nature alters the structure or function of a living organism. In this essay, drugs are more appropriate defined as psychoactive drugs such as ecstasy and cannabis, which lead to the influence of the central nervous system in mood, thought and behaviour. In addition, drugs can be classified into three categories  ¡V depressants, stimulants and hallucinogens (McGill, 2002, 78). It is widely believed that taking drugs can lead to harmful consequences on the individual and society. Therefore, this essay is concentrated on explaining the physical and psychological effects on individuals and the social impacts on society. Despite the belief that the perceived benefits outweigh the negatives, the negligence of the harmful consequences and dangers of drug taking results from the little or no drugs ¡Ã‚ ¦ knowledge among the drug takers. The truth is taking drugs may bring physical and psychological effects on individuals. Taking ecstasy as an example, also known as MethyleneDioxyMethAmphetamine, is a drug made with Lysergic Acid Diethylamide and amphetamines. The effects of ecstasy begin about thirty minutes after use and may last for four hours (Hurwitz, 1992, 21). Owing to the new development of youth  ¡Ã‚ §club ¡Ã‚ ¨ or  ¡Ã‚ §rave ¡Ã‚ ¨ culture, there is a rise of ecstasy use as recreational drugs among the young generation. Referring to National Drug Strategy, it explains that 40 per cent of the Australian population aged 14 or older has tried cannabis which is the most widely used illicit drug in Australia. This is followed by ecstasy which is the most frequently used amphetamines due to t he substantial rise in the use and availability of amphetamine-type substances (1998, Internet). Although the drug takers may experience positive changes in feelings and emotions, a high energy level and increasing confidence in the first few hours after taking ecstasy, there are harmful effects afterwards. According to Ecstasy Organization, it states that the short term effects of taking ecstasy include having dilated pupils, jaw clenching and teeth grinding, sweating, a rise in body tem... ...d incarcerated perpetrators of drug- related crimes (20.4 percent), lost legitimate production due to drug-related crime careers (19.7 percent), and other costs of drug-related crimes, including Federal drug traffic control, property damage, and police, legal, and corrections services (18.4 percent). Most of the remaining costs resulted from premature deaths (14.9 percent), lost productivity due to drug-related illness (14.5 percent), and healthcare expenditures (10.2 percent) (1995, Internet). Thus, in summary, although drugs such as ecstasy and cannabis may bring positive changes in feelings and emotions and a rise in energy level, it is no denying that the long-term negative physical and psychological effects outweigh the benefits on individuals. Likewise, it may still be suggested that the use of drug may also have social impacts such as increase in crime rate, family and work problems as well as economic costs on society. Drug abuse has detrimental effects on both individuals and society that has no sure end but tragedy. It is a dilemma that cannot be neglected. Future and current societies and governments must work to address to it, otherwise it will spread like a disease.

Foreigh Currency Risk Test

FOREIGN CURRENCY RISKQ1. Jack is a UK based car exporter who exports luxury cars and has a competitor in Germany; he has recently seen a change in foreign currency that pound ( £) of UK has strengthened against euro (â‚ ¬) of Germany. What is the type of risk does Jack face in his business? (MCQ) Credit Risk Translation Risk Economic Risk Transaction Risk(2 marks) Q2. Yarn Co is multinational business & wants its foreign subsidiary financial statements. They are making exchange losses when the accounting results of its foreign subsidiary are translated into the home currency. Which type of currency risk does Yarn Co face? (MCQ) Netting off Risk Translation Risk Economic Risk Hedging Risk(2 marks) Q3. Saito Co, a USA based fish exporter has competition with Sakkara Co based in Bangladesh. He believes he faces an economic risk in the business. What type of impact does it have on Saito Co? (MCQ) Direct Impact Indirect Impact Political Impact Economic Impact(2 marks) Q4. The current spot rate of UK ( £) to USA ($) is  £3:$1.5. The interest rates per annum are UK 5% & USA 9%. What will be the two-month forward rate (to the nearest two decimal places)? (FIB) £ :$1(2 marks) Q5. The current spot rate of UK ( £) is  £3. The inflation rate per annum of UK is 3% & the expected future six-month spot rate is  £3.06. Calculate the foreign annual inflation rate? (FIB)%(2 marks) Q6. Which of the following statements relates to International Fisher Effect? (MCQ) The exchange rates of countries depending on inflation rates The exchange rates of countries depending on interest rates Prices are same to different customers in an economy Nominal interest rate differentials between countries provide an unbiased predictor of future changes in spot exchange rates.(2 marks) Q7. Which of the following differences will result in an Expectation Theory? (MRQ) The difference in Inflation Rates Difference between Spot & Forward Rates The difference of Interest Rates Difference between Spot & Future Rates(2 marks) Q8. Select the appropriate theory with the following statements. (P&D)Depreciation of forwarding rates will be due to high-interest rates Differences in nominal rates due inflation rates A commodity is priced same in every country The forward rate is a fair predictor of the spot rate in the future EXPECTATION THEORY PURCHASING POWER PARITYTHEORY INTERNATIONAL FISHER EFFECT INTEREST RATE PARITY THEORY(2 marks)Q9. Patio Co. operates in the USA. They will be receiving a payment of  £2,500 from customers in four months' time. Calculate Patio Co.'s receipts in four months' time? Use the following rates. (MCQ)Spot Rate  £1.4/$ –  £1.6/$4 Month Forward Rate  £1.8/$ –  £2.0/$ $1,786 $1,563 $1,389 $1,250(2 marks) Q10. Fray Co is a USA based company ; imports Robots from China. The usual credit period is three months. Fray Co has to pay  ¥60,000. Calculate the loss/gain of the payment on forwarding contract? (MCQ)Spot Rate  ¥1.321/$ –  ¥1.521/$3 Month Forward Rate  ¥1.654/$ –  ¥1.854/$ $7,085 (Loss) $9,144 (Loss) $9,144 (Gain) $7,085 (Gain)(2 marks) Q11. PXG Co, a UK based company has made $3,600 sale to its USA customer on credit. The current  £/$ exchange rate is  £6.4/$12.8. It is expected that UK  £ will strengthen by 15%, by the time USA customer pays. Calculate the receipts in  £? (MCQ)  £244.57  £281.25  £489.13  £562.5(2 marks) Q12. The dollar is quoted at a $0.067 premium for the forward rate. The current exchange rate is $/ ¥ 1.0005 +/- 0.0045. What will a $4,900 payment convert at forwarding rate? (MCQ)  ¥4,876  ¥4,920  ¥5,224  ¥5,274(2 marks) Q13. A UK based company Bib Co will receive a foreign payment of $2,000 in four months' time. The spot rate is $1.1/ £ – $1.4/ £. Calculate the income in four months' time using money market hedging? (MCQ) Borrow DepositDollar ($) 4% 5%Pounds ( £) 3% 2%  £1,414.4  £1,419.4  £1,800  £1,807(2 marks)This information is used for Q14, Q15 ; Q14.A USA based company has to make a payment of  £95,000 in nine months' time. The spot rate is  £2.2/$ –  £2.5/$. Following details are: Borrow DepositDollar ($) 7% 5%Pounds ( £) 5% 3%Q14. Calculate the foreign payment using money market hedging? (MCQ) $37,164 $42,232 $43,816 $44,449(2 marks) Q15. Calculate the foreign payment if the nine-month forward rate is  £2.37/$ –  £2.71/$? (FIB)$ (2 marks) Q16. Calculate the gain/loss for the company for not leading the payment? (MCQ) $4,365 (Gain) $4,365 (Loss) $3,816 (Loss) $3,816 (Gain)(2 marks) Q17. Following statements relate to Forwarding contracts. (HA)An immediate binding contract TRUE FALSEThe forward rate is variable in nature TRUE FALSEThe timing of the contract is unknown TRUE FALSE(2 marks) Q18. A company wants to reduce its transaction risks when conducting business with foreign receivables/payables. Following statements are said by the directors during this years' AGM. Select the appropriate statements to reduce the risk. (MRQ) â€Å"The company should hold back its payments for few months†, this technique is Leading â€Å"The company should continue as normal† â€Å"I have some friends offshore who work in a bank, I may able to arrange a foreign account for the company† said by a director â€Å"The company should deal in the foreign currency only† (2 marks) Q19. Juab Co is a manufacturing company ; has a foreign supplier who supplies raw materials. Recently the supplier has now become a customer as well, who purchases Juab Co.'s finished products and sells in his respective country. Which technique of reducing risk is applicable for Juab Co? (MCQ) Money market contract Leading & Lagging Forward market hedging Matching & Netting(2 marks) Q20. Which of the following statements are true in relation to futures? (MRQ) Currency futures are standard contracts A high premium is paid initially Futures are available in all currencies offered by the bank Future contracts are binding (2 marks) Q21. A company wants to hedge itself from any currency risk. They have decided to hedge themselves using currency futures. They have to make a payment in May of $36,000. The futures have a contract size of $15,000. Which of the following futures will they select? (MCQ) Buy three futures on March Sell two futures of March Buy two futures of June Buy three futures of September(2 marks) Q22. Select the appropriate option in relation to futures. (HA) Transaction cost is lowest ADVANTAGE DISADVANTAGEContracts are limited to some currencies ADVANTAGE DISADVANTAGEThe exact date does not have to be known ADVANTAGE DISADVANTAGE(2 marks) Q23. Picots Co is UK based company which has a lot of foreign customers. It will be receiving a payment from USA based customer of $500,000 in five months. The company has been advised to use derivatives to hedge themselves against any currency risk. If they opt for currency options which of the following are correct? (MCQ) Buying a USA $ call option in the UK Buying a USA $ put option in the UK Buying a UK  £ call option in the USA Buying a UK  £ put option in the USA (2 marks) Q24. Which of the following statements relate to currency options? (MRQ) In future the market becomes favorable and the company will face a loss because it is bound to the contract They are negotiated Cannot be traded in all currencies Easily arranged & Flexible (2 marks) Q25. Which of the following is incorrect for swaps? (MCQ) It is negotiated between two parties having their own spot rate It has a nominal cost It is an over the counter deal It has multiple markets (2 marks) Q26. Which of the following has a refundable cost? (MCQ) Currency Futures Forward Contracts Currency Options Currency Swaps(2 marks)FOREIGN CURRENCY RISK (ANSWERS)Q1. CEconomic risk is the variation in the value of the business due to unexpected changes in exchange rates. This is an indirect impact on Jacks business. Q2. BThey are making exchange losses when the accounting results of its foreign subsidiary are translated into the home currency. This is an indication of Translation Risk. Q3. AIt is a direct impact on Saito Co as the USA being home currency strengthens then foreign competitors Sakkara Co in Bangladesh is able to gain sales at your expense because your fish have become more expensive in the eyes of customers both abroad and at home. Q4.  £3.02Interest rate parity theory = 3 Ãâ€" (1+(9% Ãâ€" 2/12))/(1+(5% Ãâ€"2/12)) =  £3.02 Q5. 7%Purchasing power parity theory = 3 Ãâ€" (1+(x% Ãâ€" 6/12))/(1+(3% Ãâ€"6/12)) =  £3.06X% = 7% Q6. D The exchange rates of countries depending on inflation rates (Purchasing Power Parity Theory) The exchange rates of countries depending on interest rates (Interest Rate Parity Theory) Prices are same to different customers in an economy. The law of one price. (Purchasing Power Parity Theory) Nominal interest rate differentials between countries provide an unbiased predictor of future changes in spot exchange rates. (International Fisher Effect) Q7. When these two will become equal, Expectation Theory arises. Difference between Spot & Forward Rates Difference between Spot & Future Rates Q8.Depreciation of forwarding rates will be due to high-interest ratesINTEREST RATE PARITY THEORYDifferences in nominal rates due to inflation rates INTERNATIONAL FISHER EFFECTA commodity is priced same in every country PURCHASING POWER PARITY THEORY The forward rate is a fair predictor of the spot rate in the future EXPECTATION THEORY Q9. DReceipts =  £2,500 à · 2.0 = $1,250 Q10.Payment (Forward) =  ¥60,000 à · 1.654 = $36,276Payment (Spot) =  ¥60,000 à · 1.321 = $45,420Gain = $9,144 Q11. AFuture Rate = $12.8 Ãâ€" 115% = $14.72Receipts =  £3,600 à · 14.72 = $244.57 Q12. DThe Spot rate = $0.996/ ¥ – $1.005/ ¥ -/+ 0.0045The dollar is at a premium so subtract it as if dollar strengthens then yen will weaken in the forwards market. The new Spot rate = $0.929/ ¥ – $0.938/ ¥ – 0.067Payment = $4,900 à · 0.929 =  ¥5,274 Q13. BBorrow Foreign Currency = $2,000 à · [1 + (4% Ãâ€" 4/12)] = $1,974Convert Foreign to Local = $1,974 à · 1.4 =  £1,410Deposit (Interest) = (1,410 Ãâ€" 2% Ãâ€" 4/12) =  £9.4Total Receipts =  £1,410 +  £9.4 =  £1,419.4 Q14. DDeposit Foreign Currency =  £95,000 à · [1 + (3% Ãâ€" 9/12)] =  £92,910Convert Foreign to Local =  £92,910 à · 2.2 = $42,232Deposit (Interest) = ($42,232 Ãâ€" 7% Ãâ€" 9/12) = $2,217Total Payments = $42,232 + $2,217 = $44,449 Q15. $40,084Payments =  £95,000 à · 2.37 = $40,084 Q16. B Q17. An immediate binding contract TRUE The forward rate is variable in nature FALSEThe timing of the contract is unknown FALSE Q18. â€Å"The company should hold back its payments for few months†, this technique is Lagging (Incorrect) â€Å"The company should continue as normal† This refers the company should take no action (Correct) â€Å"I have some friends offshore who work in a bank, I may able to arrange a foreign account for the company† said by a director. This statement indicates opening a foreign bank account. (Correct) â€Å"The company should deal in the foreign currency only† The company could deal in home currency rather in foreign currency (Incorrect) Q19. DThis technique attempts to match the same foreign currency receipt & payments due at the same time. The netting of the intra debit & credit balances saving transaction cost & reducing risk. Q20. Currency futures are standard contracts, fixed limits specified (True) A high premium is paid initially, this is applicable in options (False) Futures are available in all currencies offered by the bank, Only in few currencies (False) Future contracts are binding, they have to be closed (True) Q21. CThe Futures can be bought or sold only four times a year which are March, June, September & December. Future contracts can be signed relating to a month after the date of receipt. They will buy two futures each of $15,000 and the remaining $6,000 can be hedged using other techniques. (E.g. forward contracts)Q22. Transaction cost is lowest ADVANTAGEContracts are limited to some currenciesDISADVANTAGEThe exact date does not have to be knownADVANTAGE Q23. BPicots Co will want to sell the USA $ when they receive the payment which is why they will use USA $ put (sell) option bought in the UK. Q24. In future the market becomes favorable and the company will face a loss because it is bound to the contract, this statement relates to future contracts They are negotiated, this statement relates to options (Correct) Cannot be traded in all currencies, it is a disadvantage hence this statement relates to options (Correct) Easily arranged & Flexible, this statement relates to swaps Q25. DIt has no markets; it is a tailor-made an agreement between two parties.Q26. A Currency Futures, An initial margin cost which is refundable Forward Contracts, has a transaction cost Currency Options, A non-refundable premium cost Currency Swaps, No initial cost

Education and Work Experience - Free Essay Example

Sample details Pages: 1 Words: 373 Downloads: 2 Date added: 2017/09/14 Category Advertising Essay Topics: Life Experience Essay Did you like this example? There is no doubt that both higher education and work experience are important parts of education for employability. Many students want to go university and graduate with a degree which can fill their resume. However I believe that the work experience has better efficiency than the degree, particularly in terms of employment activity. First of all, work experience during higher education, and in particular that related to study, has a positive effect on employment activity because experience is what the majority of employers want. For example, we can easily find that many of the job or career advertisements emphasize 3 to 4 years experience in the particular field. According to my experience, I also preferred experience over education when I tried to designate new members as my team. I selected 7 applicants who have some experience out of 120 candidates applying for the position in order that I wanted to start the project immediately. Companies want to save both time and money by choosing experienced employees. Don’t waste time! Our writers will create an original "Education and Work Experience" essay for you Create order The other major reason is that the work experience allows students to learn about the world of work in a real working situation. They can get a good idea of what work is like in their placement and it help them to decide about their career. It is very useful even though they find that the field does not match them, as they can quickly change their pathway based on the experience. On the other hand, there are the types of jobs that require higher education over experience such as university professors in specific fields of study, for example: mathematics, physics, and chemistry etc. We can easily find that many young professors who do not have work experience but are highly educated and their knowledge is what is needed in their particular expertise. Therefore, in the specific part of job, higher education is more important than work experience. However, in the wider world of job, work experience is more important than higher education. To sum up, it is clear that work experience has a positive impact on most aspects of employment activity. For this reason, those students who want to design their life or find better job after graduating should try to get work experience related to study during their educations.