Interest And Property Insurance Policy Essay Example | Topics and Well Written Essays - 1000 words

Interest And Property Insurance Policy - Essay Example (Dermatoglyphics, 2007) Additionally, there are documents that record the sale of Chinese children. The child was identified by the imprints of their hands and feet on the document itself. The imprint was in clay. Indeed, many documents, official and otherwise that are memorialized with a signature are now were once memorialized by a fingerprint. Fingerprints have been used as a biometric measure1 for more than one hundred years and is known as one of the most well known and highly publicized techniques used to identify perpetrators of crime. The various forms of fingerprint identification have advanced from ink pads and paper to electronic recognition. There is a rage of new crime scene investigation shows that commonly feature show advance fingerprinting techniques, such as rehydrating the skin of a burned corpse to provide a fingerprint, or using a blue compound to take the fingerprint of a dead cadet in the field to later identify. Most techniques have become widely accepted and reliable forms of biometrics. This is especially so when combined with new techniques in computer technology and chemical agents. The application and employ of fingerprint analysis have tremendously progressed since their first use. Fingerprint identification and analysis is used in high tech security applications and handheld devices for the immediate identification of the dead in mass fatalities. Airports and amusement parks have replaced standard lock and key lockers with keyless thumbprint lockers. The age old time clock finds itself being rapidly replaced with systems that track employee time and database access with a simple press of the thumb. Fingerprints are also being used as a substitute for key entries for homes and automobiles. (Asplen, 2009) What was once a field related solely to the criminal justice system has expanded its' realm. Fingerprints are now used in security systems. Rather than having to carry easily lost security cards, restricted areas recognize authorized personnel by their finger or palm print. In the field of health care fingerprints are also highly valuable. Newborns are fingerprinted and foot printed at birth. Indeed, courts have taken judicial notice of the fact that after the fourth month of the development of the fetus, there appears to be no change in ridge patterns during the life of the individual, although environmental factors such as scars, which are easily recognized, may appear to affect the pattern. The structure and relationships of the ridges are infinitely variable and are not repeated either in the same individual or in another person-not even in an identical twin. Additionally, students taking the GMAT are identified by fingerprints instead of identification cards. Furthermore, government entities use fingerprints (the inkless type) to monitor and admit immigrants into the country and as a result of the September 11th 2001 attacks, homeland security instituted the Integrated Automatic Fingerprint Identification System (IAFIS), which store and searches for fingerprint matches. Integrated Automatic Fingerprint Identification System (IAFIS) is the largest finger print database system in the United States. (Scheck 2009) It was booted up in June of 1999. The system is maintained by the Federal Bureau of Investigation (FBI), Criminal Justice Information Services (CJIS) Division. Generally

Money supply Essay Example | Topics and Well Written Essays - 1750 words

Money supply - Essay Example Money can be held in three common forms; paper money, metallic coins and money deposits to banks. Measurement of money supply is a critical act and various ways have been developed by economists to measure the level of money supply in the economy. The high-powered money multiplier approach is an approach that considers the level of bank deposits by the private sector while determining money supply (Werner, 2005). According to this approach, the level of cash deposits held by the bank plays the major role in determining money supply. High-powered money multiplier approach to credit creation The high-powered money multiplier is denoted by the letter ‘H’ and is measured in terms of the summation of notes and coins held by the common population (C) and notes and coins held by the banks plus deposits maintained by banks at the central bank (R). The mathematical formula for the stock of high-powered money: H = C + R The level of money supply (M.S.) in an economy is measured by : M.S. = C + D; where C denotes notes and coins held by the common population and D denotes bank deposits made by private individuals or agents (D'Souza, 2009). We can represent money supply in terms of the stock of high-powered money (denoted by ‘H’) and the high-powered money multiplier (denoted by ‘h’). The formula for high-powered money multiplier can be derived from the formula for the stock of high-powered money and the high-powered money multiplier (D'Souza, 2009). M.S. = C + D -----------(1) H = C + R ------------(2) On dividing equation (1) by equation (2) we get equation (3): On dividing the numerator and denominator of the right hand side of equation (3) by D we get: Or, Or, Or, M.S. = h* H (7) Where, Therefore, M.S. = h* H, i.e, the level of money supply in the economy is the product of the high-powered money multiplier (h) and the stock of high-powered money (H) (D'Souza, 2009). A number of assumptions are made prior to the development this mod el measuring money supply. These assumptions have been described below: Firstly, the stock of high-powered money (H) is considered as exogenously determined. It is not dependent on the functioning of the market forces. Secondly, C/D ratio is either a constant or is stable and predictable. If the rates of return on these investments remain constant, then the ratio of C/D would also remain constant. However, in reality, bank deposits offer interest rates whereas cash holding does not. Therefore, households as well as firms would be interested to make more deposits than hold liquid money. Thus, the C/D ratio is not a constant, but, is predictable. Sometimes the C/D ratio becomes unstable and unpredictable due to changes in financial culture of the economy or high end technological innovations and changing trend in spending methods towards use of plastic money (mostly due to technological advancements) leafing to a fall in C/D ratio or lack of confidence on the banking system in the eco nomy leading to an increase in liquid money holding and a subsequent rise in C/D ratio. The final assumption is related to the R/D ratio. It is the ratio of the reserves held by the banks at the Central bank and the liabilities of the bank and is considered as stable and predictable. The banks often try to keep a high reserve with the central bank by acting in a risk-averse manner in order to protect itself in a situation of large sudden withdrawals by depositors. However, depending on the rate of interest, banks decide the amount of money they would hold as interest bearing asset and the amount they would hold as reserves (earning no interest). The stock of high powered money also changes due to the change in government policies or total liabilities of the central bank and daily operations of the central banks. Change in high powered money is denoted by ?H. The value of ?H is given by the following equation: Or, ?H = DEF – ?GD + ET + MMA Where, Budget deficit (DEF), net sale s of