Tuesday, May 19, 2020

The History of the BASIC Programming Language

In the 1960s, computers ran on gigantic mainframe machines, requiring their special rooms with powerful air-conditioning to keep them cool. The mainframes received their instructions from punch cards by computer operators, and any instructions given to a mainframe required writing a new piece of software, which was the realm of mathematicians and nascent computer scientists.   BASIC, a computer language written at Dartmouth college in 1963, would change that. Beginnings of BASIC The language BASIC was an acronym for Beginners All-Purpose Symbolic Instruction Code. It was developed by Dartmouth mathematicians John George Kemeny and Tom Kurtzas as a teaching tool for undergraduates. BASIC was intended to be a computer language for generalists to use to unlock the power of the computer in business and other realms of academia. BASIC was traditionally one of the most commonly used computer programming languages, considered an easy step for students to learn before more powerful languages such as FORTRAN. Until very recently, BASIC (in the form of Visual BASIC and Visual BASIC .NET) was the most widely known computer language among developers. The Spread of BASIC The advent of the personal computer was crucial to the success of BASIC. The language was designed for hobbyists, and as computers became more accessible to this audience, books of BASIC programs and BASIC games surged in popularity. In 1975, Paul Allen and Bill Gates, the founding fathers of Microsoft,) wrote a version of BASIC for the Altair personal computer. It was the first product Microsoft sold. Later Gates and Microsoft wrote versions of BASIC for the Apple computer, and IBMs DOS which Gates provided came with its version of BASIC. The Decline and Rebirth of BASIC By the mid-1980s, the mania for programming personal computers had subsided in the wake of running professional software created by others. Developers also had more options, such as the new computer languages of C and C. But the introduction of Visual Basic, written by Microsoft, in 1991, changed that. VB was based on BASIC and relied on some of its commands and structure, and proved valuable in many small business applications. BASIC .NET, released by Microsoft in 2001, matched the functionality of Java and C# with the syntax of BASIC. List of BASIC Commands Here are some of the commands associated with the earliest BASIC languages developed at Dartmouth:   Ã‚  HELLO — log inBYE — log offBASIC — start BASIC modeNEW — name and begin writing a programOLD — retrieve a previously named program from permanent storageLIST — display the current programSAVE — save the current program in permanent storageUNSAVE — clear the current program from permanent storageCATALOG — display the names of programs in permanent storageSCRATCH — erase the current program without clearing its nameRENAME — change the name of the current program without erasing itRUN — execute the current programsSTOP — interrupt the currently running program

Studies of Such Medical Anthropology Free Essay Example, 1500 words

The concept of self-definition varies from one culture to the other, and so this differentiates the way people engage in any type of self-activities, such as self-expression in that their psychological impacts do differ. The particular nature of the way people express themselves and how various forms of expression influence people tend to be distinct at a higher level determined by the assumptions on the self and it relates to a certain social-cultural context. The self can be defined by considering self-expression by the use of words, actions, or choices. The concept of self on biotechnology has also been discussed by Joralemon when he gives specific views using examples such as the stem cell debates and baby pictures. Rousseau believed to be the father of social contract stated that man is in his purest self when he is free of societal believes and rules. In this cultural tradition, a human being was meant to exist in this most natural condition. Nature exemplified the strength of an individual, his integrity, and freedom (Joralemon 121). Rousseau affirmed that the society corrupted this inborn freewill and goodness of persons and oppressed their self. We will write a custom essay sample on Studies of Such Medical Anthropology or any topic specifically for you Only $17.96 $11.86/pageorder now By being true and focusing on the self in the visage of societal pressures, people can move closer to the peaceful state of nature. Individuals strive to achieve freedom and happiness through self-reliance and self-integrity, yet self-expression empowers oneself. The idea of self is defined distinctively across cultures. For example, in individualist cultures, inclusive of US, the most popular sight of the self is the autonomous self that defines an individual as a unique entity, bounded and essentially separate from the social surrounding. Thus, the core principles of self are those from within him, like values, thoughts, feelings, preferences, and beliefs. In more general cultural contexts, for example, East Asia, the most shared view of self has always been independent self, which defines a person as a basically relational entity, essentially influenced and connected to its social surroundings. Social relationships defined the self in such cultur es.

Wednesday, May 6, 2020

Contrasts in the Great Gatsby Essay - 760 Words

Tyler Simms Great Gatsby Essay Accelerated English 11 Mrs. Cameron F. Scott Fitzgerald constructed his novel, The Great Gatsby, by sculpting numerous situation and character contrasts together through out the novel to create and deliver a magnificent work of art. Although Fitzgerald contrasted numerous characters and situations through out the novel, there are three that are very pungent; the characters Tom Buchanan and George Wilson and Daisy Buchanan and Myrtle Wilson. Not only were there Character contrasts, there were also situations that Fitzgerald contrasted against each other. One of them was the contrasting of the concept of the Old Money life style and the New Money life style. Tom and George not only have physical†¦show more content†¦Daisys superficiality extends to her personality. She is fragile, unstable and a confused character. While talking to Nick she said: â€Å"...I woke up with an abandoned felling and asked the nurse right away if it was a boy or a gir l. She told me it was a girl, and so I turned my head away and wept. Alright, I said, Im glad its a girl. And I hope shell be a fool-thats the best thing a girl can be in this world, a beautiful fool† (Fitzgerald 21). They also married their husbands for different reasons. Myrtle says she married George because she thought he was a gentleman. She also thought he knew about good â€Å"breeding.† On the other hand, Daisy married Tom because rich girls had to marry into money and good social status. Marrying Tom, Daisy married into the Old Money life style. The people who live by the Old Money lifestyle inherited all of their riches from at least two generations back in the family. They also dont flaunt their money with buying and having extravagant cars, houses, parties etc. Fitzgerald differentiates Old Money and New Money by placing them on separate sides of Manhattan. Old Money on East Egg and New Money on West Egg. Tom and Daisy live on East Egg and prefer small get-t ogethers. Tom and Daisy had a party and the only people who were invited were Nick and Jordan. WhereasShow MoreRelatedUse of Contrast in the Great Gatsby1483 Words   |  6 PagesDiscuss the use of contrast as a literary device in The Great Gatsby byJeannette Ng 5.15 In the book, contrast is widely used to bring about the theme of class as well as to greater emphasize the characteristics of a particular character. The book contrasts the setting, West and East egg, as well as the characters, Gatsby and Tom, Wilson and Tom and Gatsby and Tom. 1Gatsby is contrasted with Tom in several ways. Tom is overpowering while Gatsby is more reserved. Tom is described as having ‘shiningRead MoreEssay on Comparison and Contrast in The Great Gatsby1769 Words   |  8 PagesComparison and Contrast in The Great Gatsby      Ã‚  Ã‚   The success of Francis Scott Key Fitzgeralds The Great Gatsby is in part due to his successful characterization of the main characters through the comparison and contrast of Daisy Buchanan and Myrtle Wilson, Tom Buchanan and George B. Wilson, and Nick Carraway and Jay Gatsby. The contrast is achieved through two principle means: contrasting opposite qualities held by the characters and contrasting one characters posititve or negative qualitiesRead MoreCompare And Contrast The Great Gatsby And Of Mice And Men733 Words   |  3 Pagescontinued to believe in their wildest fantasies beyond childhood? The Great Gatsby by F. Scott Fitzgerald and Of Mice and Men by John Steinbeck explores this idea in distinctive detail. Gatsby looks into a mysterious man’s life in the 1920s and the secrets behind the extravagant parties he threw for all but himself, and his longing for a true love that consumed his sensibility. Of Mice and Men revolves around two peculiar young men in Great Depression era who worked to earn the money they needed to purchaseRead MoreContrasts and Conflicts Chap 1 Great Gatsby1379 Words   |  6 PagesHow Does Fitzgerald set up contrast within the first chapter? In ‘The Great Gatsby’ by F. Scott Fitzgerald the author uses various techniques to set up contrasts and conï ¬â€šicts within the ï ¬ rst chapter to show the corruption of the American Dream in the 1920’s when the book was set and also the corruption of the people during the roaring twenties. Examples of the techniques used to express these themes are characterization, dialogue, ï ¬ gurative language, diction choices , symbolism and foreshadowingRead MoreCompare And Contrast Daisy And Wilson In The Great Gatsby1033 Words   |  5 Pages In The Great Gatsby by F. Scott Fitzgerald, Daisy Buchanan and Myrtle Wilson have many similarities and many differences. Both women are unhappy with their lives, both are greedy, but both women live very different lives. Both Myrtle and Daisy are unhappy with their lives and try to escape from them. Daisy Buchanan and Myrtle Wilson are also very greedy people in similar, but also in different ways. These women do whatever the y want at the risk of their own lives as well as other people’s livesRead MoreThe Great Gatsby-Compare/Contrast Gatsby and Tom and Explain Why Daisy Stayed with Tom1521 Words   |  7 PagesName: Sherin Khawaja Class and Section: 11SD Q: Compare and contrast Jay Gatsby and Tom Buchanan. How are they similar and how do they differ? Given that Tom is portrayed negatively, why does Daisy choose to remain with him instead of leaving him for Gatsby? In the novel ‘The Great Gatsby’ written by F. Scott Fitzgerald, two men, Jay Gatsby and Tom Buchanan, fight over Daisy, an upper-class woman from an old, wealthy family in the time after the first world war during the age known asRead MoreThe Great Gatsby-Compare/Contrast Gatsby and Tom and Explain Why Daisy Stayed with Tom1537 Words   |  7 PagesName: Sherin Khawaja Class and Section: 11SD Q: Compare and contrast Jay Gatsby and Tom Buchanan. How are they similar and how do they differ? Given that Tom is portrayed negatively, why does Daisy choose to remain with him instead of leaving him for Gatsby? In the novel ‘The Great Gatsby’ written by F. Scott Fitzgerald, two men, Jay Gatsby and Tom Buchanan, fight over Daisy, an upper-class woman from an old, wealthy family in the time after the first world war during the age known as theRead MoreCompare and Contrast of Two Movie Versions of The Great Gatsby777 Words   |  4 PagesFor example, Leonardo Dicaprio’s character of Gatsby was focused on emotions. I enjoyed that Redford was very calm and cool about everything and the way he approached the character but, Dicaprio made such an open and outgoing character which made the movie more entertaining. DiCaprio captured Gatsby’s intensity and charm and brought out the crazy mood swings and took his character and the audience to a more emotional place. Both Robert Redford and Leonardo DiCaprio had their own way of approachingRead MoreThe Contrast and Conformity in F. Scott Fitzgeralds The Great Gatsby606 Words   |  3 PagesThroughout F. Scott Fitzgerald†™s novel, The Great Gatsby, Fitzgerald uses an ensemble of characters to portray different aspects of the 1920s. The characters’ occupations and lifestyles represent the corruption, carefreeness, and prosperity of the Roaring Twenties. Perhaps most striking of this ensemble is the pompous bigot Tom Buchanan and the novel’s namesake Jay Gatsby. Set in the fictional towns of West Egg and East Egg on Long Island, New York, in the summer of 1922, the novel revolves aroundRead MoreAnakin Skywalker And The Great Gatsby Compare And Contrast Essay1514 Words   |  7 PagesIn George Lucas’ Star Wars: Episode III Revenge of the Sith and F.Scott Fitzgerald’s The Great Gatsby the audience is shown both of these scenarios from Anakin Skywalker and Padmà © Amidala, as well as Jay Gatsby and Daisy Buchanan. Through this novel and movie, the audience is shown how much these men are truly influenced by the ones they love and how it affects their lives. Both Anakin Sky walker and Jay Gatsby will do anything for their loved ones, from them changing their everyday lives, to doing

Public Speaking Self Reflection - 619 Words

Public Speaking Self-Reflection COM/128 May 11, 2014 Public speaking has always been very hard for me, Ive never been the type to stand in front of an audience and speak or do a presentation. No matter how many times Ive done presentations Ive always get nervous or shy and always forget what I rehearsed. In the military I was training Nco, everytime we had a new marine check in to our unit or are shop. I would be the one to give them and the A presentation on what is expected of them and also give them information about the unit and our shop. In my opinion the Marine Corp prepared me for public speaking, especially if you where lower rank and your senior enlisted would throw you to the wolves and send you up there to give the†¦show more content†¦What do you want to accomplish in this course? Whether I like it or not I been given the opportunity to talk to large crowds like a squadron or just a couple of people in the class. My problems have always been the same getting shy, anxiety, and even sweating. Learn to analyze the size of the audience, I want to be able to captivate my audience and overall I just need to find the confidence in myself to do it. How would you plan to improve weak areas to accomplish your goals? Overall no matter how many times I do a rehearsal or practice I always get stage fright. Stage fright is my weakest area I have done rehearsals and private or with one or two people but when it comes to the bigger picture I always freeze. I need to learn to speak with confidence and try to get the audience involved instead of rushing the presentation or speaking very softly so no one hears me I need to be able to let the audience know that I am confident and the information that I am sharing is worth their time to listen and learnShow MoreRelatedMy Stage Fright Speech753 Words   |  4 Pages â€Å"This is Representative Mohan speaking for the first time today. 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This in turn is necessary for the self-improvement which is crucial to people in order to for example getting promoted at work as the market becomes more competitive . Back in College, during my HND in Business Course one of the subjects was Personal Development. Now I know that without this experience I would not be ableRead MoreReflection on Readings Using Comparison and Contrast Maxine Hong Kingston (Tongue Tied); Richard Rodriguez (Aria); Gloria Anzaldua (How to Tame a Wild Tongue)1358 Words   |  6 Pagesbasis, are underprivileged of speaking their own language, thus, emphasizing onto the lives of linguistic minority students around the world and how they struggle to cope in school and at home. Audience: Class HUM-111 and Dr. Connelly Purpose: To highlight the difficulties students have at school and at home when it comes down to learning a language which they aren’t acquainted to and the consequences of such, depending on their social background. Reflection on readings using Comparison andRead MorePersonal Statement : My Leadership Qualities Essay928 Words   |  4 PagesSelf Reflection The purpose of this paper is to focus on my leadership qualities. I will discuss my key values and beliefs, along with my strongest attribute and one of my weaknesses or an area that needs improvement. Next, I will discuss two managers or leaders, one that I really liked and one that I greatly disliked. Finally, I will discuss how I would like my direct reports to perceive me as a manger and leader. Key Values and Beliefs Upon reflection, I believe that my primary key value isRead MoreAnalysis Of Ray Bradbury s Fahrenheit 4511241 Words   |  5 Pagesindividuality, and the severe toll it takes on society’s self-awareness. Academia has widely argued the reason behind Bradbury’s dystopian themed work of art. Most interpretations of the novel suggest the work resembles anti-censorship propaganda. 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Reason vs Passion free essay sample

The view that reason is the superior principle and it causes an action is a fallacy. Having said this, Reason alone can never cause action. What really causes an action is a Passion to act according to what you desire to do. Reason however can be a passion’s or desire’s guide to discover the connection of the causes and effects. Reasoning as is what takes place in our mind and works in terms of experience or as a copy of a late event isn’t really what can cause an action. But since passion or desire takes place in a real world surely is the one that causes action. Reason guides the impulse to act. The fact that reason makes judgements using demonstration which never influence us to act but otherwise guide our action or the causes and effects it is not subjected to cause action. If for example in my reasoning I want to cross the road. In reasoning that I have to crossing the road, reason doesn’t tell me that there are speeding cars in the road and therefore I should wait for them. But for the fact that it is my desire not to get hit by a car I will have to wait until the cars have stopped then I can cross over. Now for the fact that it is my passion or desire not to be hit by a car it states it clear that passion have caused the whole action of crossing the road. My actions have been experimented in the real world according to my desire of crossing the road not only reason about crossing over. Passion is the cause of action. This is because whatever I desire results to the effects that I have expected. If I’m passionate to pass PHIL203 examination, then studying hard is the action that caused by the desire to pass. For I have reasoned in my mind that if I don’t study hard then I will fail, it is therefore my desire not to fail and I should study hard. The reason has been taken into account to direct or guide my action but the actual action has been caused by my desire or passion of not wanting to fail or of wanting to pass. So reason alone can never oppose passion or a desire or it can never prevent the choice of decision (volition) resulted from the will or even to question nor challenge any of my desires or passion. The reason therefore will always be seen to be the assistant or a slave of passion since it is ought to guide or direct our actions and discover the causes and effects while passion is causing the real action. But you got to have a reason to act then a passion can come in to bring the reason into real action. We just have to align with the reason why we have to act, have passion to desire or act at the centre of the reasoning idea, obey and serve our reason. But then again, we shouldn’t be ambushed that reason alone causes action because reason is just an idea in our minds and passion or desire is a real action that is taking place. If for example I have failed PHIL101 examination due to not studying hard then I have an experience of how dangerous it could be not to study. The reason doesn’t force me to study due to the experience I have or a copy of the last event or experience that resulted in not studying hard. This is so because reason is just a copy of an experience and it doesn’t influence me to act. But since reason have discovered the causes and effect and those causes and effects are effecting me I then desire not to be affected by those causes and effect and become passionate or make it my desire to pass the exam then studying is an act of passing for if I desire to pass therefore I should study which states it clear that passion is the cause of an action and a reason as the director. Passion is an original existence which means it is not based on experienced. Passion is not an idea in mind of what has happened before but it is a real event or action that takes place in a real world at any point in time. If for example I’m happy that I have passed PHIL203 examination, that emotion is not a copy or reference of any other object e. g. buying an Apple laptop. There is therefore no way in which a passion can be opposed or be contradictory to the truth or reason unless there are ideas that are not in favour or that are contradictory to the actual or real object they present. This could happen if I for example fear the effects of objects that haven’t or doesn’t exist e.g. fear to fail PHIL203 but not even registered for PHIL203 which means I fear of writing the exam of which I believe that I will write but that I will not write at all maybe again because I didn’t get a DP. In this case the belief is unreasonable not that the passion is. This is because if I have a belief of an effect to be caused by an action of which that effect will no longer take place because there was never a cause of that effect in the first place then belief becomes unreasonable since there was never a cause of any action that would lead to a strongly believed effect. The belief of writing an examination is unreasonable if I’m not registered for the module. If we reason incorrectly about causes and effects then it can lead to our passion being unreasonable again. If there is no false belief or incorrect reasoning about causes and effects then there is no way a passion can be unreasonable. If then I’m registered for PHIL203, got a DP, studying hard, have an experience of what happens if I don’t study hard then there is no way in which passion can be unreasonable therefore it is impossible for passion and reason to oppose each other for the control of will and action. If Stefan denies me a DP then my desire or a belief of writing an exam stops then I shouldn’t bother studying. This means if the belief is false then I must stop caring about an action I desired to take. There are those desires that don’t produce any strongly felt emotion. These kinds of desires concerned the most with what really happening or going on into our minds. It has been argued that these desires are the same as reason but that is quit not true. For the fact that it takes place in our minds doesn’t mean that it doesn’t cause an action. If it was reason alone it wasn’t going to cause any action but for the fact that it is a desire but a calm one, it is subjected to cause action. I don’t really care if my friends fail PHIL203 examination but it is not my desire to see my friends failing. Now for that calm desire I have in mind will cause an action whereby I form a study group with my friends. But then again in the opposite of calm desires there are those desires which produce a strongly felt emotion. These desires are violent in nature. If I have failed PHIL203 examination knowing exactly that I have studied hard and the paper was easy for me will cause an action of being angry with whoever marked my paper and I might even want to see my examination script. Whatever a situation might be a reason will never influence a cause of action but the Passion and the desires we have are the one that cause action. Reason will be a guide or a slave of passion.

Gulf Cooperation Council

Question: Discuss about theGulf Cooperation Council. Answer: Exchange Rates It is worth pointing out that in the last two decades the GCC have realized considerable economic and financial integration. Most barriers to free exchange of goods and movement of labor have been eliminated. Additionally, the member countries exhibit to a significant degree political and economic homogeneity (Gulf News, 2013). Also, nationals of the member countries are allowed to invest in real estate and stock markets of the member countries (Gulf News, 2013). Today, the countries enjoy low inflation, similar levels of nominal interest rates and stable bilateral exchange rates. The GCC states recognize the prominence of the US dollar in global trade relations. Thus, a majority of the transactions are done using the US dollar (Hassanain, 2017). Today, the most traded commodity in the region is oil, which contributes a large proportion of the GCC revenues. It is also worth mentioning that the member states have pegged their currencies to the US dollar, except for Kuwait. Consequently, the GCC currencies have exhibited an antiquity of coordinated exchange rate fluctuations against the US dollar. There have also been stable cross exchange rates. The Business Cycle Typically, the business cycle pertains to the rise and fall of economic activities in the aggregate economy that occurs over a given period of time. A business cycle often goes through four distinct phases, namely expansion, trough, peak, and contraction (Amadeo, 2017). The GCC countries experience an expansion of the business cycle when the economy is growing consistently. At this time, the GDP expands continuously, and the economic output is recorded as positive (Medhioub Jedidia, 2017). Markedly, a majority of the GCC countries are reported to record high levels of economic growth and high GDP levels. The second phase of the business cycle is the peak. Naturally, this is the phase that the cycle transitions from the expansion stage towards the contraction period. During the contractionary phase, the GCC economies experience significant declines in the level of activity in the aggregate economy. Normally, the GDP growth rate falls below 2 percent. In the event that the growth level drops further towards negative, the economy may fall into a recessionary period. At such a time, the levels of unemployment rise substantially. After the contraction phase, what follows is the trough. By and large, this is the period in which the economy moves from the contractionary phase towards the expansion stage. During this stage, the economy hits bottom before recovering and transitioning towards expansion. It is crucial to point out that the business cycle is a continuous cycle that transitions between phases with respect to the economic performance of the member countries. What Drives the Business Cycle in GCC? By and large, the business cycle is influenced by the underlying economic conditions within the union. However, the most predominant factor that influences the business cycle is the level of the prevailing oil prices (Iqbal, 2014). As such, oil is a major commodity in the gulf region. Predominantly, it is a chief contributor to the economys GDP (Iqbal, 2014). For this reason, fluctuations in the general price level of oil and oil products have a significant effect on the level of GDP recorded in the country. Particularly, when the prices of oil go up, the level of GDP of the union also rises. Subsequently, this increases the level of activity in the aggregate economy, thereby enhancing employment opportunities in the region. In turn, this leads to the expansion of the economy. In contrast, when the prices of oil drop significantly, the revenues received by the countries also decline. In turn, this leads to the shrinking of the GDP in the member countries. Consequently, this leads to a decrease in the level of activity in the aggregate economy. Eventually, this increases the level of unemployment in the union, creating contractionary effects in the economy. What is more, the business cycle is influenced by global trade. Specifically, this affects the business cycle of the UAE. Predominantly, this is because the non-oil exports for this economy accounted for about 75 percent of its total exports in 2013 (Iqbal, 2014). Likewise, the prevailing interest rate levels affect the unions business cycle (Iqbal, 2014). One can attribute this to the fact that the currencies are pegged to the dollar. For this reason, the global interest rates also affect the local interest rates significantly. Furthermore, global demand for the GCC countries exports influences the business cycle. Monetary Policy- Conventional Primarily, monetary policy refers to the actions of the monetary authority tasked with the responsibility of determining the level and growth of the money supply in the economy. Markedly, conventional monetary policy pertains to the actions of the monetary authority in maintaining the economic stability in the country. By and large, monetary policy in the GCC is maintained through the regulation of the level of interest rate, and selling or buying government bonds, among others (Raghu, 2013). Normally, the monetary policy implemented in the region is either expansionary or contractionary. It is imperative to note that the union has transferred its monetary policy duties to the US Federal Reserve. Therefore, all monetary policy decisions are undertaken by the US Federal Reserve (Raghu, 2013). In this regard, the union has an obligation to mimic and implement the policies as directed by the Fed, regardless of its domestic economic underpinning. Luckily, this arrangement has worked to the advantage of both parties with regards to economic and business cycles of the GCC and the US. It could be noted that the cycles of the two economies are roughly synchronized (Raghu, 2013). Monetary Policy-Non-Orthodox Pegged Currencies In 2002, the union adopted a common currency and pegged their currency to the new currency. At the time, the GCC authorities agreed to peg the mutual currency to the U.S dollar (Fasano, 2003). The adoption of the pegged currency facilitated and eased the transaction process between the various countries in the union given the importance of the US dollar. As such, it allowed for a myriad of exchanges between the GCC countries and the rest of the world. Ever since its adoption, the dollar peg has provided a foundation and reference point for macroeconomic policy, confidence and stability in the region. However, over time, Europe has gained importance in the world economy. Thus, the union made way for trade arrangements with the European Union. In turn, this has led to the emergence of changes in the economic structure and exports across the union. Consequently, this has created the need for other options apart from the initial pegging to the US dollar. Specifically, this has paved the way for options such as pegging to a basket of currencies. This way, trade transactions between the two regions is smoothened and made relatively easier. Balance of Payments and Long-run Purchasing Power Parity The balance of payments encompasses all international financial transactions undertaken by the residents of the GCC. By and large, the balance of payment is calculated by summing up the values of the current account to that of the capital accounts of the GCC countries (Amadeo, 2016). On the other hand, purchasing power parity compares different countries economies through a market basket of goods (Al-Hassan, 2009). According to a survey done between 1990 and 2007, the relative PPP does not hold for GCC countries (Al-Gasaymeh Kasem, 2016). In turn, this indicates that the creation of a single currency for the union is not a good idea. Medium-Term Current Account Imbalance Over the past few years, the current account surpluses of the GCC states have been growing significantly. In 2007, for example, the surplus increased by about 30 percent of the GDP (Peeters, 2011). Before the global crisis of 2007, the money flowing into the economy was almost equal to the money flowing out of the economy. Positive trade balances offset the deficits in the balance of service and outflow of remittances. Essentially, for GCC countries, the current account balance as a percentage of the GDP is estimated as the sum of all the current account balances of the member states divided by the aggregate nominal GDP of the member states. Short-Run Asset Markets Predominantly, the asset market comprises of capital items which are more volatile and vulnerable to prevailing economic conditions. Between 2000 and 2008, the GCC capital account was negative (Peeters, 2011). Principally, this reflects the continuous change in domestic ownership of assets. Specifically, it indicates that the change in domestic ownership of foreign assets in the region surpassed the foreign ownership of domestic assets. Thus, the net investments by the union overseas were higher than the net investments by foreigners in the GCC. For this reason, the balance of their FDI, portfolio and other investments are negative. Conclusion All in all, the question remains as to how much the current exchange rates arrangements of the Gulf Cooperation Council are sustainable. To some degree, the current arrangement has acted as a basis for economic stability and macroeconomic policy in the union. It is sustainable to the extent that the regime has kept the union afloat for the years that the arrangement has been operational in the region. However, beyond that, it can be argued that the current exchange rate regime is unsustainable for the GCC economies. Primarily, this is because pegged currency keeps fluctuating with changes in the US dollar. Specifically, any small fluctuations in the US dollar and US policies significantly influence the rates in GCC countries. In turn, this creates instability in the region. Therefore, it is crucial for the GCC to find other sustainable current exchange rate arrangements. Reference List Al-Gasaymeh, A Kasem, J. (2016). Long-Run Purchasing Power Parity and Exchange Rates: Evidence from the Middle East. The International Journal of Business and Finance Research, 10(2), pp.42-46. Al-Hassan, A. (2009). A Coincident Indicator of the Gulf Cooperation Council (GCC) Business Cycle. 1st ed. [ebook] International Monetary Fund, pp.4-26. 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