Free Essay

What Is One Worth?

In: Philosophy and Psychology

Submitted By egainey
Words 2247
Pages 9
What Is One Worth? In the depths of a person’s heart, lies his or her self-worth. Self-worth sculpts individuals into who they are, what they want to become. Self-worth lies at the heart of self-esteem. Self-esteem is Palladino (1994) “a combination of self-confidence, self-worth, and self-respect. It involves respecting others and feeling a sense of unity and peace within yourself” (p.1). The key to higher self-esteem is the incentive to take responsibility for one’s viewpoints and to understand that this is what makes them who they are] (Palladino, 1994). However, the mission of higher self-esteem at times will cause sacrifices to be made by the person “to education, relationships, self-regulation, mental and physical health, as well as other concerns” (Crocker & Knight, 2005). If a person wants to better his or her self, and generate higher self-esteem, he or she must do so cautiously, or there may be repercussions.
Palladino (1994) noted “self-esteem reflects each individual to everyone with whom he or she comes into contact with (p.1). Self-esteem does not stay the same throughout a person’s life. There are many factors that come and go that cause self-esteem to fluctuate. As stated by Palladino, (1994) “self-esteem is both conscious and unconscious. Self-esteem is an ongoing assessment of whom a person is. It is an opinion about what he or she can and cannot do” (p. 1). For example, when a person buys a house, self-esteem will be high. If a person loses his or her house due to foreclosure, self-esteem can be reduced.
Sometimes a person cannot control the conditions that affect their self-esteem. If a person loses their job, due to the economy, that is a circumstance beyond the person’s controls that affects his or her self-esteem. In the event, a person is terminated because of his or her poor job performance this is a circumstance that he or she can control. This circumstance can also affect a person’s self-esteem. This circumstance could be prevented and if a person is ready he or she can change his or her behavior.
Carl Rogers, one of the utmost instrumental psychologists in the 20th century, stated that [self-worth can be viewed as a gauge from high to low. There are moments in one’s life where he or she is capable of handling the adverse events that occur. However, a person with little self-worth may elude trials in life, not accept that life can be upsetting, and become frustrated and will tend to cautious with others] (McLeod, 2007). For example, a couple gets a divorce after thirty years of marriage due to a partner cheating. This can serve as a major blow to one’s self-esteem. He or she may not be willing to accept this event for a long time. During and after the events that surround the divorce, one may not want to accept other hardships that come along. He or she may not be trusting of others. He or she may try to avoid anything that comes along and threatens to yield more disappointment.
Vohs and Finkel (2006) noted “via self-regulation individuals come to realize their dreams and desires-to change their visions of the future into graspable realities” (p.32). A person’s desires can be anything from a buying a home, getting married, moving to a new state, or starting a new job. Opportunities that provide a person a goal to work towards will assist in self-regulation. Vohs and Finkel (2006) also noted “self-regulation is [extremely] important; it helps [individuals from] the self and the social world in which they want to be a [part of] (p.32).
Carl Rogers believed McLeod (2007) “feelings for self-worth [established during infancy] formed from the interaction of the child with the mother and father. As a child grows older, interactions with significant others will affect the feelings of self-worth” (McLeod, 2007). For example, parents who show love and affection for their children will allow the child a sense of value. Children with parents who do not show love and devotion to their children will tend to have the opposite outlook. However, teachers, friends, and other relatives also play a vital role in how a person feels about his or her identity. If everyone makes an individual feel wanted and loved, the individual may feel warm about oneself. However, if one or more people are not open or if they put the individual down, that could have an impact on how the individual views his or her identity.
McLeod (2007) also stated that Rogers believed that [we need to be [seen encouragingly] by other. Everyone needs to feel valued. [Positive regard involves how people [assess other people] in social interactions. Unconditional positive regard is when parents and other [noteworthy individuals in someone’s life] accepts and loves the [individual] for who he or she is. Positive regard does not change when the person makes a mistake]. This enables the individual to feel free to try things and not to worry about making mistakes, because it will not change how parents or significant others see them. This gives them the opportunity to become who they want to become, without fear of repercussion. Think of the teenager who tries to play every sport, the one who makes excellent grades, but yet dresses and acts differently than everyone else. The parents’ ability to accept the minor for who he is, not what he does, proves that the parents practice unconditional positive regard with their child.
McLeod, (2007) also stated that Rogers believed that [Conditional positive regard occurs when positive regard, admiration, and support can be determined by the child’s behavior, for instance, they conduct themselves in ways that the parents would consider being correct. Consequently, the child will not be loved for who they are as an individual, but on the stipulation that he or she obey the rules accepted by the parents]. Now, imagine the teenager who makes satisfactory grades, is involved in extracurricular activities that his or her parents deem to be appropriate, and always dresses and acts in a manner that his or her parents feel is appropriate. This minor is one who seeks the praise from his or her parents, because he or she wants to obey his or her parents. This teenager falls under the class of conditional positive regard. “People, who have dealt with conditional positive regard as children, repetitively seek approval from others later in life as well” (McLeod, 2007).
Crocker and Knight (2005) stated [good and adverse events in terms of conditional self-worth may increase or reduce feelings of self-esteem around a person’s normal level of self-esteem. These fluctuations in self-esteem can make the individual feel inferior. Nonetheless, people who experience bouts of high or low self-esteem will examine the emotional high united with the accomplishment. They will try to avoid the feelings of low self- esteem at all costs. Consequently, these contingencies of self-worth help control behavior] (p.200). Palladino (1994) agreed and went on to elaborate that [generally, low self-esteem results from negative emotional responses. It is not easy to [reach maturity] with knowledge of high self-worth, because of the various aspects that arise in this complex world. Childhood experiences can cause thoughts of inadequacy and result in low self-esteem] (p.2). If a child has been a victim of bullying, has trouble in school, or has not shown the proper care at home these can attribute to poor self-esteem. If these feelings can be supported by negative belief patterns, they can become the norm for the individual (Palladino, 1994).
Contingencies of self-worth as determined by Crocker and Knight (2005) also affect long-term and short-term goals. [People want to prove that they are a success, not a failure, in domains of contingent self-worth, because that would mean they are worthy and valuable. In other words, they have self-validation goals. When success cannot be guaranteed, they will move on without completing the task at hand. They would rather withdraw from the task, than to suffer yet another loss and reduce their self-esteem] (p. 200).
A person who is studying to become a lawyer should give oneself a sense of exceptionally high self-esteem. However, after taking the bar twice and failing, with only one opportunity left to pass, may choose to avoid the test. They may not want to experience failure once again. This person may become afraid of what others think of them. No one wants to experience failure. However, a person with higher self-worth will be able to handle failure with more ease than someone with lower self-worth.
The emotions accompanied with proficiency in domains of contingency are useful. However, they do not meet basic requirements for learning, relationships, and autonomy, one’s sense of choice. One may try to defend his or her capabilities, by attempting to improve one’s self-esteem. These actions have costs of learning, relatedness, freedom of choice, self-regulation, and over time physical and mental health (Crocker & Knight, 2005).
Crocker and Knight (2005) also determined that [autonomy refers to the sense of choice. When one’s autonomy is reduced, he or she may feel pressure from the expectations, and standards placed on them. At times, pursuing self-esteem can interfere with establishing and maintaining supportive relationships. People become focused on themselves at the expense of other’s needs and feelings. Interactions with others become a way of validating the identity, rather than an opportunity to contribute and encourage others. The purpose of self-esteem hampers with attaining significant aspirations, because of efforts to protect self-esteem can compromise success. Also, the intense emotions associated with failure in contingent domains can derail efforts to achieve goals. The stress and anxiety associated with contingent self-esteem may affect mental and physical health through stress, and indirectly through self-destructive behavior] (pp.201-202). If a person fails, he or she may not feel worthy, and become anxious about not being able to achieve success, instead of approaching the failure as a setback. This can lead to depression and other health problems.
Palladino (1994) described [self-esteem is the relationship between who a person is and what he or she does. It is the relationship between internal and external success. Individuals need to understand that dreams and goals they may have as children, may not always remain their dreams and goals as an adult]. As a child, one may dream of being a professional singer, but as he or she ages, they may realize that they would prefer to be a pediatric nurse. Therefore, Palladino, (1994) [everyone needs to reevaluate their dreams and goals every once in a while. Once this occurs, the individual can begin the process of acting in different ways, and creating new goals and dreams. The successful individual today has significant goals and enjoys the process of getting there. This person will continually re-evaluate who he or she is. This individual can go through life without the feelings of guilt, fear, or self-doubt] (pp. 1-3).
Crocker and Knight (2005) noted [another self-preservation technique, would be to not to focus on how to build one’s self-esteem, but to achieve that the goals they have planned for his or her identity. Individuals need to access their self-esteem and how much of an investment they have placed upon it. They need to understand where they have inverted their self-esteem, and how such an investment creates costs to their relationships, learning, feeling of autonomy, and the ability to achieve their goals] (p. 203). Paladino (1994) determined “change is hard work; it takes an effort. Change can [instigate] pain, fear, anger, and frustration. Producing it may also mean upsetting balance in a relationship or even letting go of a person who is not supportive of his or her change” (p.2). Relationships should serve as an anchor, aiding in relieving anxiety and present security in moments of need (Vohs & Finkel, 2006). However, change can also lead to an exploration of new goals and enthusiasm, which may result in a new vision. Although change sometimes leads to failure, if an individual can learn from the experience, he or she will have the courage to try again. Subsequent successes will add a new strength and a sense of accomplishment for the individual (Palladino, 1994).
Self-worth plays a vital role in which each person is. Everyone is constantly evolving by changes in their everyday life and by the people who enter and exit their life. Self-worth creates positives and negatives in everyone’s life. People have the option of being responsible for themselves. By accepting responsibility, they can produce better alternatives for themselves.

References
Crocker, Jennifer & Knight, Katherine M. (2005). Contingencies of Self Worth. Current Directions in Psychological Science (Wiley-Blackwell). Vol. 14 (Issue 4), pages 4, 200-203.
McLeod, S.A. (2007). Simply Psychology; Carl Rogers. Retrieved April 26, 2012 from http://www.simplypsychology.org/carl-rogers.html
Palladino, Connie D. (1994). Developing Self Esteem: A Guide for Positive Success. Menlo Park, California: Crisp Publications.
Vohs, Kathleen D (Editor); Finkel, Eli J. (2006). Self and Relationships: Connecting
Intrapersonal and Interpersonal Processes. New York, NY, USA: Guilford Press. Retrieved from: http://site.ebrary.com/lib/apus/Doc?id=10172290&ppg=48

Similar Documents

Premium Essay

Oosskfsf

...Were the problems caused by bad luck, bad strategy (flawed business model), or bad execution? 2. Evaluate the proposed restructuring plan (the one proposed in Jan. 1997). What are the details of the plan? Will the plan solve Marvel’s problems? 3. How much is Marvel’s equity worth (in $/share) under the proposed restructuring plan, assuming it acquires Toy Biz as planned? Why is it sensible to use the CCF method here? (Assume a long-term market risk premium of Marvel Entertainment Group 1. Why did Marvel file for Chapter 11? Were the problems caused by bad luck, bad strategy (flawed business model), or bad execution? 2. Evaluate the proposed restructuring plan (the one proposed in Jan. 1997). What are the details of the plan? Will the plan solve Marvel’s problems? 3. How much is Marvel’s equity worth (in $/share) under the proposed restructuring plan, assuming it acquires Toy Biz as planned? Why is it sensible to use the CCF method here? (Assume a long-term market risk premium of Marvel Entertainment Group 1. Why did Marvel file for Chapter 11? Were the problems caused by bad luck, bad strategy (flawed business model), or bad execution? 2. Evaluate the proposed restructuring plan (the one proposed in Jan. 1997). What are the details of the plan? Will the plan solve Marvel’s problems? 3. How much is Marvel’s equity worth (in $/share) under the proposed restructuring plan, assuming it acquires Toy Biz as planned? Why is it sensible to use the CCF method here? (Assume...

Words: 1800 - Pages: 8

Premium Essay

Good Will

...The standard that should be used to judge the moral worth of certain actions has remained debated and controversial over time. Though it is hard to apply in real life, I personally believe that the moral worth of an action should be determined by the motivation and intention that initiated it, but not by the consequences or influences that the action brings about. I will illustrate my reasoning by focusing on Kant’s views on good will and moral worth, along with some real life examples, Socrates’s discussion on differences between mere true belief and real knowledge of virtue and several other philosophers’ unique interpretations and related discussions on this topic. Kant makes a clear argument about good will in the very beginning of his book Grounding for the Metaphysics of Morals. He explicitly states that: “There is no possibility of thinking anything at all in the world, or even out of it, which can be regarded as good without qualification, except a good will. (Kant 7)” Kant believes that a good will is always morally good. Therefore, what a good will does is always morally good as well. Also, he obviously takes good will as the only true standard to judge the moral worth of a certain action. He explains that everything that seems to be good by itself actually could only be good if they are driven by a good will; without a good will, these other things might be used to produce negative outcomes. Except for a good will, nothing else would be good simply on its own...

Words: 2916 - Pages: 12

Premium Essay

Econ Test

...56 out of 100 . Answer Key  Chapter one ------------------------------------------------- Top of Form Question 1 (Worth 4 points) Your friend says your car is worth about a dollar. Your friend is using money as a  standard.  store of value.  medium of exchange.  measure of value. Points earned on this question: 4 Question 2 (Worth 4 points) Currency is  an adjective for current economic news.  stocks and bonds.  paper bills and coins.  government-issued bank checks. Points earned on this question: 4 Question 3 (Worth 4 points) Quantity demanded is the quantity  customers will purchase at a specific point in time.  producers will sell at a specific price.  government demands to be produced.  people will purchase at a specific price. Points earned on this question: 0 Question 4 (Worth 4 points) Which situation best illustrates all three of the basic economic questions?  You start your own web design company and sell your services to local businesses.  You start your own web design company for fun, making sites for your friends.  You pay a web design company to make a site for you.  You start a web design company using your own equipment and serve local businesses. Points earned on this question: 4 Question 5 (Worth 4 points) Your friend wanted a cell phone and an mp3 player for birthday gifts. When his mom said he could only have one, he chose the cell phone. His opportunity cost is the  the enjoyment of having a cell phone.  price...

Words: 5315 - Pages: 22

Premium Essay

Present Value

...ability to calculate present value. A. Suppose your bank account will be worth $15,000.00 in one year. The interest rate (discount rate) that the bank pays is 7%. What is the present value of your bank account today? What would the present value of the account be if the discount rate is only 4%? The present value for a bank account that is worth $15, 000 in one year at an interest rate of 7% will be $14019.00. Using the Present Value Factors Table for a period of one year at a 7% rate value factor is .9346. $15, 000 x .9346= $14019.00 worth in value. The present value for a bank account that is worth $15, 000 in one year at an interest rate of 4% will be $14422.50. Using the Present Value Factors Table for a period of one year at a 4% rate value factor is .9615. $15, 000 x .9615= $14422.50 B. Suppose you have two bank accounts, one called Account A and another Account B. Account A will be worth $6,500.00 in one year. Account B will be worth $12,600.00 in two years. Both accounts earn 6% interest. What is the present value of each of these accounts? Account A would be worth $6, 132.10. Account A in one year at a 6% interest rate value factor is .9434. $6500 x .9434= $6132.10 Account B would be worth $11, 214.00. Account B in two years at a 6% interest rate value is .8900. $12, 600 x .8900= $11. 214.00 C. Suppose you just inherited a gold mine. This gold mine is believed to have three years worth of gold deposit. Here is how much income this gold mine is projected...

Words: 465 - Pages: 2

Premium Essay

History

...life is unconscious pattern. We all have blind spots sometimes when I examine a chronic problem in my life, I have unsetting feeling that I must be missing something, but I can’t quite see what it is. We try to examine ourselves but none of us can use our backside (our shadow) That’s why Socrates’ method of self examination includes an essential element that becomes Socratic dialogue. Dialoguing with a close friend, a spouse a skilled psychotherapist or spiritual advisers help reveal those blind spot we cannot see by our selves. This quote is from Socrates believed that the purpose of human life was personal and spiritual growth. We are unable to grow towards greater understanding of our true nature unless we take time to examine and reflect upon our life. Examining our life reveals pattern of behavior unless we become aware of these pattern, much of our life is unconscious repetition however many times we are too busy with our life and work to contemplate fully our life’s pattern. According to Socrates we need to stop and evaluate so that we can spot our patterns of destructive, otherwise your life is simply not worth living. Through our generation, mankind has been asking themselves what is the purpose of life. And obviously, it would not be easy for one alone to answer or explain what the meaning of life is. One’s life is monotonous it is meaningless and it is not monotonous if it has a purpose, a target...

Words: 1806 - Pages: 8

Premium Essay

Accounts

...What is GAAP and what is the purpose of GAAP GAAP means generally accepted accounting principles and are a compilation of authoritative accounting standards that public, nongovernmental entities within the USA are required to follow by the authority of the Securities and Exchange Commission. Since 1973, the SEC designated the Financial Accounting Standards Board and a private, non-profit organization are as the one responsible for establishing U.S. GAAP. What is the purpose of a balance sheet? What information does it provide? The purpose of a Balance Sheet is to report the financial position of a company at a certain point in time. It is divided into two columns. The first lists what the company owns (assets) on the left. The second shows what the company owes (liabilities and net worth) on the right. At the bottom of each list is the total of that column. As the name implies, the bottom line of the balance sheet must always Balance. In other words, the total assets are equal to the total liabilities plus the net worth. Marianne M. Huey The purpose of a Balance Sheet is to report the financial position of a company at a certain point in time. It is divided into two columns. The first lists what the company owns (assets) on the left. The second shows what the company owes (liabilities and net worth) on the right. At the bottom of each list is the total of that column. As the name implies, the bottom line of the balance sheet must always "balance." In other words, the total...

Words: 1385 - Pages: 6

Premium Essay

Self Worth and Motivation

...Motivation: Self-worth theory Motivation: Self-worth theory Since 1890 many people have pondered and tested the theory that what a person thinks about themselves impacts what they achieve in life. Goals, aspirations and the motivation to achieve such things vary from person to person depending their high or low opinion of self-worth. There is a direct correlation between success and self-worth, academic goals and achievement behavior are affected by the quality of self-regulation (Covington, 2000). Education is all about motivation and when someone has a greater sense of self[worth they want to achieve greater things and better themselves. Besides self-worth another huge motivator is to have a sense of belonging, integrity, and the respect of others (Covington, 2000). Building the self-worth of employees is a great motivational tool. Recognizing superior effort publicly, or privately will boost a person’s self-worth and motivate them to keep up the good work or do better. Simply treating someone with respect and dignity will greatly improve their self-worth and therefore their motivation. If you treat an employee as an equal, listening to their ideas and contributions instead of just forcing them to implement your ideas, they will feel better about themselves and their work. Business is serious, but people will be more motivated if they have reason to smile (Charney, 2005). ...

Words: 1094 - Pages: 5

Free Essay

Good Life Questions

...to Gula, Christians believe that every person in the world is made in the image of God and, therefore, they have worth value and dignity. 2. A gift is what we have received, and we give to the community. According to Gula, every individual’s gift is supposed to developed and cherished so that they can be shared with other individuals. Among the greatest of gifts is to be made in God’s 3. Responsibility is the effort we put towards living the way Jesus shows human beings should live. Responsibility according to Gula is what human dignity is in addition to 4. Humility is one of the fundamental values together with gratitude that are important in living a good life. Humility is also an individual’s acceptance of their abilities and limitations. It is the middle ground between the extremes of self-effacement and pride 5. Gratitude is among the two primary values together with humility to living a good life. Gratitude is a virtue that also closely follows with humility in accepting that every gift individuals have received are meant to be shared. Gratitude is also remembering to tell others thank you (Gula 31). 6. Worth is what is rooted in God’s love and not on individuals. To love other individuals is how people show that they are worth. 7. Self-esteem is constructed by individual’s belief about God. What individuals believe about God is also related to their self-esteem. A social person is an individual that have...

Words: 575 - Pages: 3

Free Essay

The Unexamined Life Is Not Worth Living

...The Unexamined Life Is Not Worth Living “The unexamined life is not worth living,” is a familiar saying that Socrates said at his trial for heresy, that is, encouraging his students to challenge the accepted beliefs and think of themselves instead and this led to his death sentence. Socrates could have avoided death by choosing life in prison or exile but he refused claiming that, these alternatives will prevent him from examining the world around him and see how to make the world a better place. He argued that with the absence of his examined life will, there was no value of living. Therefore, Socrates claimed that for a human being to live a worthy life, everyone should question, examine and re-examine the values of their lives daily (Kamtekar, 154). This paper explores the meaning and the significance of the Socrates claim that “the unexamined life is not worth living” focusing on the Apology and Euthyphro. The words, ‘the unexamined life is not worth living’ by Socrates comes from Plato’s Apology when Socrates is sentenced to death after being accused of corrupting the youth and impiety (Ahbel-Rappe & Rachana, 229). Patterson posits that apology is one historical account of Socrates’ defense during his trial (Patterson, 16), and these words appear at the end of the Apology when Socrates is going through possible punishments for charges against him. Socrates utters these words when the jury has already found him guilty and has to decide on what kind of punishment to impose...

Words: 1222 - Pages: 5

Premium Essay

Macroeconomics

...Question 1 (Essay Worth 15 points) Exchange Rates | Year | U.S. Dollar | South Korean Won | Malaysian Ringgits | Indonesian Rupiahs | 2008 | 1 | 9,046 | 3.49 | 9,022 | 2009 | 1 | 9,046 | 3.78 | 9,087 | 2010 | 1 | 8,995 | 3.65 | 9,144 | a. Given the change in the value of the dollar between 2008 and 2009, as indicated in the table above, describe the effects this will have on United States tourism in each of these countries. b. Explain what impact the change in the value of the dollar between 2008 and 2009 will have on the United States current account. Question 2 (Essay Worth 15 points) Suppose the United States decides to impose a tariff on all wood products coming into the nation. a. Using a supply and demand market graph, show and explain how the tariff will affect the market for wood products in the U.S. b. Who are the winners and losers as a result of the tariff on wood products? Consider foreign and domestic producers, the U.S. government, and consumers in your answer. c. Explain one of the arguments for the imposition of the tariff on wood products. d. Name two (2) negative costs that will result from the tariff. Question 3 (Multiple Choice Worth 2 points) The balance of payments includes all of the following except transfer payments for welfare. goods and services sold overseas. foreign purchases of domestic assets. imported goods and services. capital goods purchased by foreigners. Question 4 (Multiple...

Words: 2091 - Pages: 9

Premium Essay

Finance Essay

...Turning Money into Wealth, 5e (Keown) Chapter 2 Measuring Your Financial Health and Making a Plan 2.1 Using a Balance Sheet to Measure Your Wealth 1) Insolvency results from taking in more than you consume financially. Answer: FALSE Diff: 2 Topic: Net Worth 2) In some cases insolvency can lead to bankruptcy. Answer: TRUE Diff: 3 Topic: Net Worth 3) Having negative net income will not affect your net worth. Answer: FALSE Diff: 3 Topic: Net Worth 4) The house that you are leasing from the landlord is a good example of a tangible asset on your balance sheet. Answer: FALSE Diff: 2 Topic: Assets 5) Current liabilities are those that can typically be paid off in full within twelve months. Answer: TRUE Diff: 1 Topic: Liabilities 6) To determine your level of net worth, subtract your liabilities from your positive net equity. Answer: FALSE Diff: 2 Topic: Net Worth 7) Before you can hope to achieve your financial goals, you will need to first measure your current financial health and develop a plan and a budget. Answer: TRUE Diff: 1 Topic: Nothing Happens Without a Plan 8) When measuring your current financial condition it is important to create A) positive net worth. B) a personal balance sheet. C) an income statement. D) positive net income. E) both B and C are required. Answer: E Diff: 2 Topic: Balance Sheet 9) Assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals are...

Words: 5350 - Pages: 22

Premium Essay

Financial Calculation

...option prices are the stock price, strike price, risk-free interest rate, volatility, time to maturity, and dividends. Problem 10.2. What is a lower bound for the price of a four-month call option on a non-dividend-paying stock when the stock price is $28, the strike price is $25, and the risk-free interest rate is 8% per annum? The lower bound is [pic] Problem 10.3. What is a lower bound for the price of a one-month European put option on a non-dividend-paying stock when the stock price is $12, the strike price is $15, and the risk-free interest rate is 6% per annum? The lower bound is [pic] Problem 10.4. Give two reasons that the early exercise of an American call option on a non-dividend-paying stock is not optimal. The first reason should involve the time value of money. The second reason should apply even if interest rates are zero. Delaying exercise delays the payment of the strike price. This means that the option holder is able to earn interest on the strike price for a longer period of time. Delaying exercise also provides insurance against the stock price falling below the strike price by the expiration date. Assume that the option holder has an amount of cash [pic] and that interest rates are zero. When the option is exercised early it is worth [pic] at expiration. Delaying exercise means that it will be worth [pic] at expiration. Problem 10.5. “The early exercise of an American put is a trade-off between the time value of money and the insurance...

Words: 4462 - Pages: 18

Premium Essay

Macro Economics Practice Exam

...Question 1 (Essay Worth 15 points) Exchange Rates | Year | U.S. Dollar | South Korean Won | Malaysian Ringgits | Indonesian Rupiahs | 2008 | 1 | 9,046 | 3.49 | 9,022 | 2009 | 1 | 9,046 | 3.78 | 9,087 | 2010 | 1 | 8,995 | 3.65 | 9,144 | a. Given the change in the value of the dollar between 2008 and 2009, as indicated in the table above, describe the effects this will have on United States tourism in each of these countries. b. Explain what impact the change in the value of the dollar between 2008 and 2009 will have on the United States current account. Question 2 (Essay Worth 15 points) Suppose the United States decides to impose a tariff on all wood products coming into the nation. a. Using a supply and demand market graph, show and explain how the tariff will affect the market for wood products in the U.S. b. Who are the winners and losers as a result of the tariff on wood products? Consider foreign and domestic producers, the U.S. government, and consumers in your answer. c. Explain one of the arguments for the imposition of the tariff on wood products. d. Name two (2) negative costs that will result from the tariff. Question 3 (Multiple Choice Worth 2 points) The balance of payments includes all of the following except transfer payments for welfare. goods and services sold overseas. foreign purchases of domestic assets. imported goods and services. capital goods purchased by foreigners. Question 4 (Multiple...

Words: 2091 - Pages: 9

Free Essay

Black Hair

...WITH OUR MOST AOVANCEO RELAXER YET SMOOTH THERE'S ONE NUMBER YOU NEED TO KNOW TO BEGIN DOWN THE ROAD TO FINANOIAL PROSPERITY: YOUR NET WORTH. HERE'S HOW TO DETERMINE THAT FIGURE SPECIA EDiTior Lovelv 1HY-GLO8S(5)' WCHI. SLEEK and SHIW HAIR »iiliarASHMfRtlOUCH > get the 5 SIGNS OF HEALTHY HAIR > MOISTURE > SHINE > STRENGTH > SOFTNESS >BOOY SOFTSHEENlCARSON LABORATORIES „™eä;«i«a: T 96 here may not be a universal definition of wealth. Some may go with a doUars-andcents perspective; others, spiritual one. "I define financial wealth as the achievement of economic freedom. To me, someone is wealthy when he or she has the freedom to work or not to work; the freedom to travel or not to travel; the VISITEBONY.COM / A U G U S T 2 0 1 3 freedom to pursue his or her own passions and dreams, or the freedom to simply \\w a life of leisure and do nothing at all," says Lynnette ííhalfani-Cox, aka The Money Coach, founder of AskTheMoneyCoach. com. No matter how you view wealth, the road to achieving it begins with a cle;i r understanding of where you are riglil now. And financially speaking, that ACHIEVE Black Wealth Challenge WORK IT OUT: WHAT'S YOUR NET WORTH? BEFORE YOU FIGURE OUT WHERE YOU'RE GOING, FIGURE OUT WHERE YOU ARE means figuring out your net worth. Simply stated, your net worth is a calculation of everything you own minus everything you owe; i.e., your assets minus your liabilities. What may seem like a basic analysis is so much more than...

Words: 878 - Pages: 4

Free Essay

Mytask

...Artificial Intelligence Chapter 1 Chapter 1 1 Outline ♦ What is AI? ♦ A brief history ♦ The state of the art Chapter 1 2 What is AI? Systems that think like humans Systems that think rationally Systems that act like humans Systems that act rationally Chapter 1 3 Acting humanly: The Turing test Turing (1950) “Computing machinery and intelligence”: ♦ “Can machines think?” −→ “Can machines behave intelligently?” ♦ Operational test for intelligent behavior: the Imitation Game HUMAN HUMAN INTERROGATOR ? AI SYSTEM ♦ Predicted that by 2000, a machine might have a 30% chance of fooling a lay person for 5 minutes ♦ Anticipated all major arguments against AI in following 50 years ♦ Suggested major components of AI: knowledge, reasoning, language understanding, learning Problem: Turing test is not reproducible, constructive, or amenable to mathematical analysis Chapter 1 4 Thinking humanly: Cognitive Science 1960s “cognitive revolution”: information-processing psychology replaced prevailing orthodoxy of behaviorism Requires scientific theories of internal activities of the brain – What level of abstraction? “Knowledge” or “circuits”? – How to validate? Requires 1) Predicting and testing behavior of human subjects (top-down) or 2) Direct identification from neurological data (bottom-up) Both approaches (roughly, Cognitive Science and Cognitive Neuroscience) are now distinct from AI Both share with AI the following characteristic: the available...

Words: 2000 - Pages: 8